A MAJOR East Yorkshire telecommunications company is up for sale.

Convergent Telecom Ltd, one of the biggest employers in Pocklington, has suspended the trading of its shares on the stock market.

The company, formerly known as JWE, employs more than 200 members of staff at its site in Blenheim House, York Road.

Its announcement to the London Stock Exchange stated: "The company has been considering its position in its market for some time and has initiated discussions with a number of parties with regard to the sale of Convergent Telecom Limited. These discussions have been held following dialogue with the company's bankers.

"Several bids have been received."

In a potentially gloomy message for shareholders, the announcement added: "The board is of the opinion that there is a material uncertainty over the likely value achievable by the sale of Convergent Telecom Limited and that the sale process may leave no real value for the shareholders.

The board has concluded that it is inappropriate for trading in the shares to continue whilst this uncertainty remains."

John Rawlings, of Convergent Telecom, said the plant was continuing to trade as normal while the company was for sale.

He said: "We are still open and functioning and are in talks to save the company. The shares have been suspended because the sale might not realise enough money to pay off the shareholders."

The Mayor of Pocklington, George McManus, said he was concerned about the future of the business.

He said: "Convergent plays a very important part in the economy of Pocklington and the surrounding area.

"Any changes in the business are likely to have a significant impact on an enormous number of people, not just those who are directly employed but those who provide support services and the company's suppliers.

"Convergent has already made an enormous contribution to the economy of Pocklington and has brought a lot of skills to the area. I hope in the long-term, people will continue to work there and it will continue to thrive."

In April, Convergent signed a two-year deal to provide engineering giant Costain with a new mobile phone network.

Only days after the deal was signed, the company's chief executive, Tony Farmer, was replaced by a new boss, Graham Darnell.

Updated: 10:35 Tuesday, June 10, 2003