Feeds

OneTel sale in doubt

What? No interest?

Boost IT visibility and business value

Centrica is on the verge of scrapping the sale of its OneTel telco operation after failing to receive a decent bid for the business.

The Sunday Telegraph reports that parent company Centrica only received one offer for the telco and that was just a smidgen over £100m - well down on the £300m - £350m valuation put on the company back in September.

As a result the utility giant looks set to pull the sale rather than part with a business which has some 1.7m fixed line and broadband punters for a cut-price.

The few months since September have seen a massive overhaul of the industry forged by a number of mergers and acquisitions. Only today NTL announced plans to buy Virgin Mobile even as it grapples with its merger with Telewest.

Since the end of the summer Sky has lined itself up for the take-over of broadband operator Easynet while a rack of others including Caudwell Communications and Your Communications have been put up for sale.

With so much activity, potential buyers are getting picky. And although the deadline for bids for OneTel has now passed, it's possible the telco could still be prepared to leave the "for sale" sign up for a while longer yet.

Asked to comment a spokesman for OneTel told us: "I can confirm that the deadline last Friday has passed and we are considering our options." ®

Build a business case: developing custom apps

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Banking apps: Handy, can grab all your money... and RIDDLED with coding flaws
Yep, that one place you'd hoped you wouldn't find 'em
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
Netflix swallows yet another bitter pill, inks peering deal with TWC
Net neutrality crusader once again pays up for priority access
Judge nixes HP deal for director amnesty after $8.8bn Autonomy snafu
Lawyers will have to earn their keep the hard way, says court
Ex-IBM CEO John Akers dies at 79
An era disrupted by the advent of the PC
prev story

Whitepapers

Top 10 endpoint backup mistakes
Avoid the ten endpoint backup mistakes to ensure that your critical corporate data is protected and end user productivity is improved.
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.
Backing up distributed data
Eliminating the redundant use of bandwidth and storage capacity and application consolidation in the modern data center.
The essential guide to IT transformation
ServiceNow discusses three IT transformations that can help CIOs automate IT services to transform IT and the enterprise
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.