Letsbuyit.com float on again
Prepared to brave a Letsnotbuyit market
Letsbuyit.com looks like its finally going to take the plunge and float on the stock market tomorrow. The co-op online purchaser has had a chequered past, including two abandoned floats, a lost investor and some appallingly PR stunts, but is going for broke this time.
It'll have to - as the money situation is getting increasingly desperate. The Reg is not a great fan of Letsbuyit's business model, and we'll be watching the float with interest.
Alpha Telecom has gone into receivership, owing a total of £20 million to its creditors. The telecommunications reseller, which was planning a £200 million floatation in March, had been turning over £90 million a year without making a profit. Industry watchers said that the company does not have it debt collecting up to speed. Deloitte and Touche, the receivers, has said that it will try to sell the firm on as an ongoing concern.
Wanadoo - France Telecom's Net outfit - was up 10 per cent after a sober opening day on the Paris Bourse. The share price rose to Euros23 from the opening shot of Euros19, valuing the company at Euros23 billion.
First Tuesday - the clique for new media luvvies - is reportedly in talks to sell the company for £33.5 million to Israeli-based Yazam, according to theFT
Amazon.com is aiming to generate "more than half" its total sales from outside the US in the next "10-years-plus", Jeff Bezos told theWall Street Journal
. Amazon currently gets 23 per cent of its sales from outside the US. He refused to comment on speculation that his e-tailer is looking at buying eToys, the US online toy seller. ®
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