Tiscali buys Pipex's broadband services
Jul 16th 2007, 00:00
Broadband provider Tiscali has invested in a number of divisions of the Pipex business at a cost of £210 million.
The Italian firm has bought Pipex's broadband and phone services by purchasing Pipex Homecall, Switch Telecoms, Pipex Internet and Toucan Residential.
Pipex has retained its business services, web hosting and Pipex Wireless divisions.
Peter Dubens, executive chairman of Pipex, said: "In the consolidating UK market, today's announcement crystallises value for shareholders and ensures that Pipex's customers will continue to receive a wide range of competitive, high quality communications and internet services."
He added that options were currently being reviewed relating to how the proceeds of the sale would be distributed among shareholders.
Last year, Pipex expanded its services by buying broadband firms Toucan and Bulldog.
It also recently launched a new managed hosting solution for small and medium-sized businesses.
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