KCOM has recommended shareholders accept a new takeover from an Australian infrastructure group, after previously accepting a lower offer from a UK pension fund in April. The £563m offer from Macquarie Infrastructure and Real Assets (MIRA) values the shares at 109p and represents £60m compared to the amount the Universities Pension Plan (USS) was willing to pay. The Hull-based telecommunications company said the deal was good for shareholders and if accepted would end 20 years as a publicly traded company. "This offering provides our shareholders with even greater monetary value for their shares, as well as a strong partner for KCOM in maintaining, building and enhancing our offering and position," said Patrick De Smedt, Interim Chairman of the Non-Executive Board. . from KCOM. Speculation regarding 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 contenders because the acquisition would allow it to enter a whole new market. BT and Virgin Media do not operate any telephone or broadband services in Hull due to KCOMs' historical advantage in the city. To renew its license in 1914, KCOM had to buy the local telephone infrastructure, while other regional telecom groups were absorbed into the General Post Office (GPO), which became BT. One key difference, apart from the white phone booths, is that KCOM has used FTTP (Fiber to the Premise) for its very high-speed implementation, rather than Openteach Fiber to the Cabinet (FTTC). This means large parts of the region have access to some of the fastest speeds in the UK, but critics say the company has a monopoly, even if it must provide wholesale access to its infrastructure. . KCOM must respect the proposed universal service obligation in Hull and East Yorkshire, with Openreach covering the rest of the country.