The owners of the NOW broadband service are soliciting approaches from buyers, it has been reported.

The firm, which is owned by Hong Kong-based telecoms company PCCW, has held talks with at least one competitor in the UK, according to a report in the Times.

NOW had been aiming to compete with the large players in the UK market, but has amassed just 14,000 customers since it launched its broadband wireless service in 2004.

The unique selling point of the service was the fact that it was a wireless service that eliminated the necessity for users to have a separate phone line.

Prior to the launch of its service, NOW had invested some £28 million in spectrum licences.

In 2002, PCCW took the decision to close down its broadband provider, also called NOW, having only commenced trading in 1999.

Recent accounts revealed that NOW posted a loss of £23.3 million for 2005.