Skip to main content
Jump to navigation
Pipex Business Logo

Pipex is to sell off its remaining assets after recording a loss for the first half of 2007, it has been reported.

The broadband service provider is looking to sell after posting a net loss of £8.39 million during the first six months of the financial year. This compares with a profit of £6.6 million for the same period last year.

According to a report from the Independent, this has prompted the firm to appoint investment bank UBS to enact the sale of its divisions that have not been acquired by rival provider Tiscali in a deal closed earlier this year.

The remaining divisions include a wireless broadband joint venture with Intel, a network services division and a web-hosting unit.

Peter Dubens, chief executive of Pipex, said he is seeking a single buyer for the hosting division, but that the wireless unit will be floated.

Pipex received £210 million for its broadband and telecoms assets through their sale to Tiscali.

Join the conversation

comments powered by Disqus

Stay up to date

  • Google+ Follow uSwitchTech
  • Subscribe to our RSS feed

Latest Comments

  • Paulstubb 1 week ago Britons' refusal to change... I left TalkTalk and paid extra elsewhere because their customer service is nonexistent. Absolutely awful.
  • Fennyuk 1 week ago TalkTalk offer discounts on... Using the television service as a loss leader! I'd rather have a reliable internet service and choose my...
  • Fennyuk 1 week ago Britons' refusal to change... Talktalk's "no price hikes" only applies to line rental and not the add-on services. I was on an 18 month...

Search news