Floater, Orange, not flash in the pan
Orange is to float on 12 February, according to media reports. Following France Telecom's take-over of the mobile phone company and the acrimony building up to Hans Snook's departure, 15 per cent of the company will be floated for a hoped-for £9.5 billion.
Following on from thedismal
of News Corporation's online efforts in the UK, it has now shut down its US online arm with the loss of 200 jobs. Three main Fox Web sites will be returned to their networks and News Digital Media will be wound up.
Mapeley, George Soros' property outsourcing specialists, is reported to be amongst the bidders for BT's property estate. Yesterday, BT said it wanted to raise £2 billion in a sale and lease back deal. Prestige sites such as BT Tower in the centre of London are not included in the arrangement.
Games mag publisher Future Publishing has issued its second profit warning in two months. It said it might close more than six titles following poor sales over the Christmas period blaming the late launch of the PS2 gaming console. This latest warning pushes the company into loss.
Job search and advice site Vault.com has said it will lay off about a third of its work force in a bid to cut costs and turn a profit. Thirty-three of its employees, soon to be ex-employees, may now have a use for the company's services. It offers "insider information" to anyone searching for a job.
Internet conference group RMR has issued a profits warning which it said is likely to result in the loss of almost half of its workforce. The company made pre-tax losses of £967,000 last year on a turnover of £1.1 million. Up to 75 of RMR's 160 staff are likely to lose their jobs. ®
There's more dotcom misery here</>. Sorry.