Daily Net Finance News: 16-30 Nov 1999

intro

30 Nov 1999 Tesco is selling £2 million worth of groceries online each week, the company said today, making it one of the biggest e-supermarkets inn the world.


29 Nov 1999

The Inland Revenue, and Customs and Excise, are to let people file their tax return online, the Government said today. The first electronic submissions are expected to be made during 2000/2001 and the IR also plans to offer discounts on tax returns filed over the Internet. Further details will be announced in Budget 2000.


Ex-Creation records boss Alan McGee, Richer Sounds supremo Julian Richer, Boomtown Rat Sir Bob Geldof, and Virgin's Richard Branson have ploughed cash into independent music portal, clickmusic.co.uk. Exactly how much they've shelled out is being kept under wraps.


AIM-listed Startit.com is set to raise £828,250 after it was approached by an anonymous institution keen to subscribe to 6,000,000 new 1p ordinary shares at 14.5p per share.


Affinity Internet Holdings Plc -- the Internet and telecoms company -- has entered into a three-year joint marketing agreement with COLT Telecommunications to offer voice, data and Internet services. Affinity has also acquired GamesZone from ICL for an undisclosed sum.


Booksellers, BOL, has appointed Robert Nichols director of books after the exec jumped ship from rival W H Smith Online.


Freeserve books deal with WH Smith
Consumers reject clothes shopping online
Hopeless: M&S dips toe into e-commerce water Show me the money, Register tells ISP
26 Nov 1999

eVetsment has made a rash of new appointments following its decision in the summer to concentrate its investment activities on Internet and e-commerce businesses. Christopher Roberts has been appointed CE, Jackie Donnelly takes over as executive director and Adrian Graham becomes the new FD. Tom Vaughan and John Drinkwater become non-executive directors.


US shopping mall bans the Net

ThreeW.net -- which was launched in October 1999 to invest in Internet companies -- has conditionally agreed to acquire Smith Directories Limited for £11.1 million. Smith Directories is a private company which provides access to on-line business-to-business directories of suppliers of goods and services. It also allows users to conduct business on the Net. The deal was made up of £600,000 cash offer with the balance comprising threeW.net shares valued at 125p.


Cambury Investments PLC has changed its name to e-capital investments plc as part of the company's switch in investment strategy to focus on companies in the Internet and e-commerce sectors.


25 Nov 1999

Online auctioneers, QXL.com plc, announced today that Francois Tison has resigned as a non-executive director of the company.


Sherland Limited has reduced its stake in ISP Voss Net to 6.85 per cent after selling 210,000 shares in the company.


3i -- the VC specialists -- claims it's invested £1.15 billion in hi-tech companies.


24 Nov 1999

New media content providers, 365 Corporation plc has upped its guide price to between 150p and 160p. Earlier this month it suggested a price guide of 135p to 150p when it published its prospectus detailing its bid to seek a listing on the London Stock Exchange.


Inktomi Corp is to provide mobile phone operators, Orange, with search technology for its portal, orange.net. Details surrounding the deal were not released.


GlobalNet Financial.Com -- the online financial news outfit -- has opted to raise £20 million on AIM because it claims Easdaq would have taken too long,

This is London

reported.


23 Nov 1999

EMI Group reported an increase in sales of 8.7 per cent to £1,080.1million and a 71.6 per cent increase in pre-tax profits to £86.5m, the company said today. Internet and new media initiatives contributed £24.8m of licensing income following a deal with musicmaker.com. The company also said it was poised to "exploit the power of the Internet and the rapid development of digital technology, whichever direction they may take" and that it was "reinvesting in new media".


British Web services company, Freecom.net, has been valued at £48.75 million after the placing of shares prior to listing on AIM was oversubscribed 20 times. The placing of 15,384,615 ordinary shares at 130p per share raised £20 million before expenses. The placing price was outside the original range of 97 – 120p stated in the company’s prospectus.


Flextech Interactive, the Internet and e-commerce division of media group Flextech plc, has agreed to buy a controlling stake in Way Ahead, Britain's leading rock and pop ticketing agency. Flextech is paying £7.2million for a 77.5 per cent stake in Way Ahead, the company said today.


22 Nov 1999

Online information guide, Scoot.co.uk, has taken its first step into the US market following an agreement with BBCAmerica.com. Scoot's UK classified listings will now be available at www.bbcamerica.com.


Internet recruitment company, Internet Times PLC, confirmed today that its offer for subscription raised £1.6 million. According to

AFX

, the offer was "substantially oversubscribed".


19 Nov 1999 Bol locks horns with online CD sellers
Open for business today:The Sotheby's Amazon love in
18 Nov 1999 Electronics giants, fashion houses bar online discounting
Online banking hits the right note
17 Nov 1999

British e-tailing portal, ShopSmart, has acquired Enterprise City, the UK web store directory and site evaluation service for an undisclosed sum. Under the terms of the agreement, Enterprise City's content is to be incorporated into the ShopSmart site. It's founder, Adey Merrick is to join ShopSmart as content manager.


On-the-move traffic information service, Trafficmaster, is to raise £65.9million to fund its expansion into Europe. It will also provide traffic information in Britain next year via the Web and mobile phones thanks to a tie up with French technology company, Webraska, according to the

FT

.


16 Nov 1999

Energis has poached David Wickham, CE of Cable & Wireless GlobalNetwork, to be its new COO. He will take up the position next month.


Bookmaker, Coral, acquired Gibraltar-based betting outfit Eurobet yesterday. Details of the purchase were not released. The acquisition will help Coral establish tax-free betting for its customers, the

FT

said.


There's speculation that online information outfit, Dialog, could become the target of a take-over, the

Daily Telegraph

reported today.


FT.com has teamed up with US financial Web site, CBS.Marketwatch.com, as part of the pink paper's growing presence online. The

FT

will retain a 60 per cent stake in the JV.

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