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Originally Posted by Mail On Sunday Financials
Bulldog on the market
By Simon Fluendy
TROUBLED telecoms giant Cable & Wireless has put its Bulldog broadband service up for sale for as much as £50 million.
Investment bank NM Rothschild last week requested expressions of interest from Industry and private equity players.
C&W issued a denial after Financial Mail reported in February that it was poised to exit the high-speed Internet business. But it has been an open secret in the Industry for months that new boss John Pluthero thought the company needed to shed Bulldog. C&W bought it for £18 million in 2004 and has spent £173 million upgrading systems. It attracted about 150,000 customers but served them so badly that last year communications watchdog Ofcom launched an Investigation. Pluthero wants shot of the
consumer business, but will keep the infrastructure,âââ₠¬Å¡Ã‚¬Ã¢â€žÂ¢ said one senior industry source
†˜He will tie the purchase of the customer base to use of C&Wââ‚Âà ‚¬ÃƒÂ¢Ã¢â‚¬Å¾Ã‚¢S access system. This will make the price look flattering to C&W, but enable the buyer to have cheap access to the local broadband networkââ‚à ‚¬Ã¢â€žÂ¢
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Just read that in the paper and thought I would scan it in and then copy it over for people to read. Haven't found anything on the Internet grapevine yet though
