Easynet Rises on Bskyb Bid Hopes

Shares in broadband internet provider Easynet have risen on hopes that satellite television broadcaster BSkyB will bid for the company. The speculation follows BSkyB’s announcement on Friday that it aims to go on an acquisition spree after raising £1bn ($1.8bn) in a bonds issue.

Easynet confirmed that it had received a bid but refused to name the source. A takeover of Easynet would help BSkyB move towards broadcasting some of its programmes via the internet.

Shares in Easynet were up 20% to 116p in early trading on the London stock exchange, following a 10% increase on Friday. Analysts say that Easynet could be valued at around £150m, implying a share price offer of 130p.