Feeds

Le Freeserve and Wanadoo shares suffer

Sacre Bleu! The Internet is unstable

  • alert
  • submit to reddit

Build a business case: developing custom apps

Both le Freeserve and Wanadoo suffered at the stock exchange (London and Paris, respectively) yesterday. Freeswerve put a brave face on its results - highlighting that operating loss was lower than last quarter but glossing over the fact that pre-tax losses had rocketed - but shares still fell 3.6 per cent.

Its parent Wanadoo suffered worse - seeing 6.7 per cent wiped off its share value.

Freeserve's results are put out of kilter by a big one-off write-off of Net investment losses and a bit of a reshape - both included as a result of Wanadoo's recent acquisition of it for £1.65 billion. That, combined with the new influence of Wanadoo, well, France Telecom - a notoriously hands-off company :-) - makes Freeserve's situation difficult to ascertain. Hopefully, the next set will enable us to see through the fog.

Wanadoo has also just purchased Spain's Indice Multimedia, and is offering new shares with a bit of cash to cover the £220 million deal. It's not a bad deal, but people are getting nervous. The City is still trying to work out patterns of instability in Internet companies. None (well, none that work) have emerged as yet, but a Net company buying out other Net companies can get hands shaking. ®

Related Stories

Le Freeswerve - c'est magnifique
Wanadoo in Euro buying spree

Build a business case: developing custom apps

More from The Register

next story
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Nintend-OH NO! Sorry, Mario – your profits are in another castle
Red-hatted mascot, red-colored logo, red-stained finance books
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
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.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.