Feeds

Scottish Telecom set for £1bn IPO

Parent company looking to cash in on popularity of tech stocks

  • alert
  • submit to reddit

Internet Security Threat Report 2014

Scottish Power is set to sell-off part of its IT business to cash in on the stock market's ravenous appetite for telecom shares. The clever money suggests that the floatation will happen in the Autumn although it's expected that only 25 per cent of the business will be put up for sale. Scottish Telecom is estimated to worth anywhere between £1 billion and £1.5 billion. According to a report in today's Daily Telegraph, Scottish Power would be following in the footsteps of National Grid after it sold off Energis to realise the value of its telecomms subsidiary. Last year, Scottish Telecom doubled its profit to £10 million thanks in part to the performance of Demon Internet which it bought for £66 million in May 1998. Shares in Scottish Power rose 23 to 565p yesterday following the news and have continued their upward path this morning. They rose as high as 584p in early trading before falling back to 573p by lunchtime. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.