Today's Financial Times (FT) newspaper reports that The Carphone Warehouse (CW) has dropped out of talks to acquire Pipex. Confusingly the piece claims that BT is now the only bidder left, yet this would appear to contradict earlier stories (here) that had them dropping out.

Typically newspaper reports can be wrong and BT could still be in the running, although suffice to say that the situation has become increasingly murky.