Centrica is still looking to flog its Onetel phone business despite earlier reports that the utilities giant - which also owns British Gas - had failed to find a buyer.

Earlier this month reports surfaced that the company was on the verge of scrapping the sale of its OneTel telco operation after failing to receive a decent bid for the business.

While Centrica was reportedly looking for £300m - £350m for the business, it seems it only managed to attract a bid of smidgen more than £100m.

But in a trading update published today Centrica said it was still looking to offload its telecoms business, which boasts some 1.7m telecoms and broadband punters.

"Discussions are continuing on the sale of Onetel," said the company.

Nuff said. ®

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• OneTel 'worst mis-selling offender' says BT (12 October 2005)

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• Caudwell to flog fixed line biz (21 September 2005)

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• World+dog sniffing round OneTel (19 September 2005)

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• OneTel for sale (15 September 2005)

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