BT has made an offer to buy PlusNet PLC in a deal that values PlusNet at £66.7 million and it looks like the main PlusNet shareholders are looking to accept.
BT has received 25.2% of PlusNet share capital "promised" to them from some of the major holders and PlusNet hope to get a good return for all their shareholders.
Away from the money side of the deal PlusNet looks set to continue under the PlusNet brand in the immediate future but it is unsure if this is a permanent move or just for the time being.
Having PlusNet run under the BT brand coukd likely see many benefits too that would mean PlusNet could develop their network better using all BT's resources.
Read a summary of the deal here or the full details here