Carphone buys AOL UK biz
p2pnet.net News:- Britain’s Carphone Warehouse is buying the UK arm AOL’s Net access business from Time Warner for £370 million (about $685,794,695).
“The deal will give Carphone around two million broadband customers and make it the third largest provider of high-speed internet in the UK,” says The Independent.
“It came as the mobile phone retailer revealed losses from offering “free” broadband to 625,000 of its Talk Talk customers will hit £70 (about $129,753,613) million this year.
Carphone says it’ll handle AOL’s UK customers while AOL provides web content and manages online advertising, says the story,
For AOL, “the sale is part of the Virginia-based company’s efforts to shed its access subscription business as it focuses on boosting advertising revenue from its free Web sites,” says the Associated Press, adding:
“Last month, French telecommunications network operator Neuf Cegetel said it was buying AOL’s French Internet access business for about US$365 million (â¬290 million) in cash. Time Warner also reached an all-cash deal to sell AOL Germany’s Internet access business to Telecom Italia SpA for about US$870 million (â¬692.2 million).”
Also See:
The Independent – Carphone in £370m AOL internet deal, October 11, 2004
Associated Press – Carphone Warehouse agrees to buy AOL’s U.K. business, October 11, 2004
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