UK broadband provider Pipex may be sold in the coming weeks as the firm's bosses appointed investment bank UBS to manage the firm's strategic future. .

Pipex has emerged as one of the UK's leading broadband providers over the last few years and a potential sale could see the company go for £336 million.

Among the interested parties include other communications heavyweights Carphone Warehouse, Orange, BT and Sky, all of whom will be vying for Pipex's 570,000 British customers.

In a statement, the firm said: "Pipex confirms that it has appointed UBS to investigate a number of strategic options, which could include a sale of the company."

However it added that any plans for the future should be viewed with caution. "This process is at a very early stage and there can be no certainty that a transaction will result.

"A further announcement will be made in due course."

Last week, Pipex's share price surged up by 14 per cent in anticipation of the sale but at the beginning of trading today, its share price had fallen by 0.25 pence to 13.75 pence.



© Adfero Ltd

Categories: Pipex

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