Feeds

Dixons says yes to Freeserve IPO

But will anyone other than a rival ISP really want it?

  • alert
  • submit to reddit

The essential guide to IT transformation

Dixons has confirmed it is to spin-off part of Freeserve in a move that will surely test the UK's appetite for Net stocks. It has also said it intends to register part of the offering in the US -- a move that would tap into the US' dwindling craving for Net stocks. The move also quashes speculation that Freeserve may have been the target of a take-over by another ISP. The worry is that its decision to capitalise on its success may have come too late. A report in yesterday's Sunday Telegraph claimed that up to 70 per cent had been wiped big name Internet stocks. The jury is still out on whether this is just a correction -- a massive correction, mind -- or the sound of the Internet bubble bursting. Today's announcement follows the appointment of CreditSuisse First Boston and Cazenove & Co in April to explore the potential of an initial public offering (IPO) for the highly successful ISP. Dixons has already appointed a syndicate of banks to participate in the IPO and further information will be release shortly. Freeserve has also bolstered its management team by appointing Nicholas Backhouse as CFO, formerly at ING Barings LTD. John Pluthero, CE of Freeserve said: "This is a significant step in Freeserve's strategic development and represents an important opportunity to continue to build on the quality of content and services that have made Freeserve a leading UK Internet portal." How much Freeserve is worth is still up for grabs. Depending who you speak to, it could be worth anywhere between £100 million and £4 billion. ®

5 things you didn’t know about cloud backup

More from The Register

next story
True fact: 1 in 4 Brits are now TERRORISTS
YouGov poll reveals terrible truth about the enemy within
Microsoft exits climate denier lobby group
ALEC will have to do without Redmond, it seems
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
7 Elements of Radically Simple OS Migration
Avoid the typical headaches of OS migration during your next project by learning about 7 elements of radically simple OS migration.
BYOD's dark side: Data protection
An endpoint data protection solution that adds value to the user and the organization so it can protect itself from data loss as well as leverage corporate data.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
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?