Pensions Corporation, the pensions buyout venture trying to acquire UK telecoms group Telent and its far larger £3bn (€4.3bn) retirement fund, has won a second postponement of its offer deadline to give it more time to hammer out a deal with trustees.

The deadline, originally October 23, has been pushed back a second time to 13:00 GMT on November 7. Pensions Corporation said this morning it now controls 41.73% of Telent, up from the 29% it had when it first made its approach.