Pension fund USSL seals £500m deal for KCOM

The Universities Superannuation Scheme (USSL), one of Britain’s biggest pension funds, has agreed to buy Hull-based telecoms company KCOM in a deal worth £504m. The news has seen the struggling firm’s share price jump by about a third to 97p. KCOM provides voice and internet-based services to 140,000 customers and businesses in Hull, the only part of the UK where the market leader BT doesn’t have a presence.

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