Have been reading through the items posted, and agree with Sat69 from his earlier post.
There is value with KCOM, as from interims etc,about growth and prospects ahead.
As I have always been posting from the big boys..HSBC and brokers sentiment says 80p,as normal price somewhere in the near future as it stood before the offer, and here we stand with an offer, and the shareprice at 70p ish.
This has been/was manipulated down ,prior to the bid,to look as if the rise is extra to the price after October, but this 80p was forcast in September, dont blame me, blame HSBC for this sentiment.
KCOM is well undervalued at 70p , and the council know it, and even if they refuse the offer,it does not say we will not sustain the price rising forward into the new year, and achieve the 80p forcast.
Not all things are equal in the stockmarket, but consistancy is, and kcom have proven they can emerge from the doldrums,as they have,or is no one reading the interims.
I ,and many others are not concerned in a quick fix bid at 85p. and this time next year, the share may be running at £1 , so a quick sale by HCC may be difficult to swallow, they have public to appease as well the city...imho