The councillors in Hull have had an emergency meeting to discuss the take over:-
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The city council's Kingston Communications shareholding committee has held an urgent meeting to discuss the future of the business.
The meeting was called for last Friday afternoon, following a week of speculation about the Carr Lane company.
As the Hull daily Mail exclusively revealed earlier this month, Hull City Council is considering selling its controlling 30.6 per cent stake in KC.
Sources at the Guildhall suggested US private equity giant the Carlyle Group, which has been linked with a takeover bid for KC, has been in advanced discussions with the council.
Following the leak, however, chief executive Kim Ryley warned councillors not to comment on speculation surrounding the future of the authority's shareholding in KC.
A letter to all councillors said any comments could lead to a referral to the Standards Board For England, which monitors the behaviour of councillors, or possible legal action.
GMB union officials have written to the council demanding to know more about what the council is planning to do. The union says it wants reassurances about how its 600 members at KC would be affected by any takeover.
Les Dobbs, GMB's organiser in Hull, said staff in Hull should be retained in the event of any takeover.
He said: "The council has a big decision-making role in this. We are concerned for our members."
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