The Carphone Warehouse, the UK’s third largest internet service provider and Europe’s largest mobile handset retailer, has reportedly walked away from the bidding for Pipex Communications.
In March, Pipex confirmed it was up for sale. The Stoke Mandeville, UK-based ISP said at the time that it had appointed UBS to investigate a number of strategic options, which could include its sale.
Companies initially said to be interested in the ISP included Carphone, the UK satellite broadcaster British Sky Broadcasting Group, cable giant Virgin Media (formerly NTL), and BT Group.
According to the Financial Times, BSkyB and Virgin Media have already withdrawn from the running and only BT remains. Reuters, quoting a source close to the firm, also said that Carphone had dropped any interest it had in Pipex. Pipex and BT refused to comment.
Shares in Pipex fell 9.09% to 12.5 pence ($0.24) on the London Stock Exchange.