Colt Leaps on Takeover Rumor, Bond Buyback
Updated from 7:53 a.m. EDT
Colt Telecom
(COLT)
was up 36.3% in early afternoon.
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Monday, the British newspaper the Observer reported that the UK telco could be the target of a takeover bid, a report that Colt summarily dismissed.
Also Monday, the company unveiled a bond buyback, reducing its debt by 47 million pounds ($68 million).
