Report: AOL to Sell Off U.K. Unit
According to reports today, AOL is reportedly looking to sell off its ISP business in the United Kingdom, something it has already begun to do in France and Germany.
The Dulles, Va.-based company has already hired Citigroup to find a buyer for the French and German units, UK trade The Guardian reported, and it may now extend its game plan to the U.K. unit as well.
Even though it has 2.2 million customers in the U.K., including 1.3 million broadband customers, AOL is facing stiff competition from free Internet services provided by British companies such as Carphone Warehouse.
The U.K. mobile phone service Orange also introduced a free broadband service this week for customers who spend more than £30 ($56.48) per month on wireless service. Other companies are planning to bundle broadband access with their TV and wireless services, as well.
AOL’s move comes at a time when the online giant has been shifting its focus away from the ISP business in favor of its free Web portal and the services it offers that generate advertising. The new Web strategy has been spurred on by Google’s purchase in December of a 5 percent stake in AOL for $1 billion.
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