The Universities Superannuation Scheme Ltd. (USSL) pension fund will take control of KCOM for € 504 million. The Hull-based telecommunications company has recommended that its shareholders approve the transaction, which ends 20 years of activity as a publicly traded company. The Board believes that the 97 pence per share offer represents an undeniable opportunity for shareholders to generate attractive redemption values for their shares and recognizes the quality of KCOM's operations and the strength of its future prospects. Said Patrick De Smedt, Acting Counselor. Executive President of KCOM. "For all these reasons, the Board unanimously recommends that shareholders accept the offer." Speculation about an acquisition has intensified in recent months as a result of a major earnings warning issued last year, followed by a series of directional changes. . Virgin Media was one of the reported rivals because the acquisition would allow it to enter an entirely new market. BT and Virgin Media do not operate any telephone or broadband services in Hull due to KCOM's historical advantage in the city. To renew its license in 1914, KCOM had to buy the local telephone infrastructure, while other regional telecommunications groups were absorbed by the General Post Office (GPO), now BT. In contrast to white phone booths It is because KCOM has used Fiber to the Premise (FTTP) technology for its very high speed deployment, rather than Openreach's Fiber to the Cabinet (FTTC) technology. This means that large parts of the region have access to some of the fastest speeds in the UK. Critics argue that the company enjoys a monopoly, although it is required to provide wholesale access to its infrastructure. KCOM is to provide the proposed Universal Service Obligation (USO) in Hull and East Yorkshire, with Openreach covering the rest of the country. .