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Pipex Shuns Traumatic Sale Speculation

Posted: 17th Apr, 2007 By: MarkJ
Pipex has moved to reassure investors that its strategic review remains on track. The news follows feverish speculation that several bidders had walked away from the auction.

Pipex issued the following statement while also revealing its latest quarterly results, although the quote will do little to dampen any concern over the provider’s current status:

"The board notes that there has been a large volume of highly speculative press coverage, and would like to reassure shareholders that the strategic review, which is expected to be completed during the summer, continues to the board's satisfaction"

By the end of 2006 Pipex had a total of 570,000 broadband subscribers, which is made up of its own users and that of several other acquired ISP's (Nildram, Bulldog etc.). The provider is expected to issue a further statement in due course.
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