The board of Scottish telecoms company Thus yesterday abandoned all hope of remaining independent - moving finally to recommend that its shareholders accept a £329m cash offer from Cable & Wireless.

The board of Scottish telecoms company Thus yesterday abandoned all hope of remaining independent - moving finally to recommend that its shareholders accept a £329m cash offer from Cable & Wireless.

The directors of Thus, which is run by former Cable & Wireless executive Bill Allan, declared that they would now be accepting their much-bigger rival's offer in respect of their shareholdings.

Thus's board dispensed with its long-standing refusal to recommend the Cable & Wireless bid only after its suitor revealed on Tuesday that it controlled 78.5% of the Scottish company.

In a statement released to the stock market at 4pm yesterday, detailing the board's climb down, Thus said: "While the board remains confident in the standalone prospects of Thus, the board recognises there are risks of remaining as a minority shareholder in Thus in light of C&W's stated intention to de-list Thus shares upon the offer being declared unconditional. The board also notes that no higher offer for Thus has been received.

"For these reasons, the board, who have been so advised by (investment bank) Greenhill, now recommend that shareholders accept the offer, as the board intends to do in respect of its own beneficial holdings."

In spite of its previous reluctance, Thus yesterday appeared to go out of its way to provide its shareholders with details of how to accept the Cable & Wireless bid.

In the stock market statement, it declared: "The offer will remain open for acceptance until the next closing date which will be 1pm (GMT) on September 9, 2008. Full details of how to accept the offer in respect of certificated and uncertificated Thus shares are set out in the offer document and, in the case of certificated Thus shares, the accompanying form of acceptance. Additional forms of acceptance are available from Equiniti, by telephoning 0871 384 2908 or from outside the UK on +44 121 415 0285."

When Thus wrote to its shareholders on June 30, telling them of Cable & Wireless's move to raise its offer from 165p to 180p-a-share, it told them: "Following further discussions, Cable & Wireless approached Thus with an improved offer of 180 pence per share. The Thus board considers that this improved offer represents a proposal worthy of consideration by shareholders in the absence of a better proposal. Accordingly the Thus Board, which has been so advised by Greenhill, has agreed that the offer be put forward to Thus shareholders.

"However, it is the Thus board's view that the offer is not such a compelling proposal that the Thus board could give a recommendation to Thus shareholders to accept the offer at this time."