Ross clinches Cosalt control

Carphone Warehouse founder David Ross has won his bid to take control of oil services group Cosalt after a months-long rescue attempt. Cosalt said yesterday Ross, whose family have held a stake in Cosalt for three generations, passed the 50 per cent threshold needed to make his takeover offer unconditional. However, he fell short of the 90 per cent control he hoped for when he put his first bid forward in November.