Feeds

Energis Freeserve reward less than expected

Dixons drives hard bargain

  • alert
  • submit to reddit

Bridging the IT gap between rising business demands and ageing tools

Dixons has struck a hard bargain with Energis, the telco that supplies Freeserve with all its Internet infrastructure needs. Through its Planet Online subsidiary, Energis gets 1.75 per cent of the enlarged share capital of Freeserve -- in contrast with earlier reports which said it would have as much as three per cent of the equity. Even these shares come with a price attached. Admittedly this price is highly subsidised -- as Energis must stump up for the nominal value for Freeserve shares. This won't be that much, but we can't tell you yet how much Energis is paying, as Dixons has not yet revealed what the nominal value of Freeserve shares will be. Energis can also subscribe for up to two per cent of Freeserve's share capital, in equal tranches over the next four years. In effect, this is a massive share option, with the price the same as that payable by investors in the IPO. That's the carrot. The stick is that Energis has to meet "certain conditions", including performance criteria. ®

The Power of One Brief: Top reasons to choose HP BladeSystem

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple ran off to IBM
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.