Host Europe Purchases Freedom4 for £120m

Lesley Henderson — Wed, 19 Mar 2008 14:44:06 +0000

European telecommunications provider Freedom4 Communications, previously known as Pipex Communications, announced on Tuesday it has signed an accord to sell its hosting and network service division to Host for £120 million.

Set up by Freedom4 chairman Peter Dubens, Host Europe is a recently formed subordinate of investment firm, Oakley Capital.

Once the business deal is concluded, Freedom4 Communications says it will return up to £156.9 million to shareholders through a tender offer.

Oakley Capital says its subsidiary Oakley LP will issue £20 in vendor loan notes, assume around £10 in debt and pay the rest in cash.

Last year, Freedom4 sold its Pipex consumer broadband and telephony business to Italy’s Tiscali for £210 million. The company’s operations will at this moment consist exclusively of its wireless mutual venture, which was set up with Intel Capital, providing wi-fi and wi-max networks to residents in Milton Keynes and Manchester, UK.

Pipex renamed to FREEDOM4

Lesley Henderson — Thu, 13 Mar 2008 10:34:26 +0000

European telecommunications provider Pipex Communications announced on Friday it has rebranded the company to FREEDOM4 Communications as the company moves its spotlight towards presenting business-strength Internet services and hosting solutions. The company’s regular shares will at this moment trade under the name ‘FFC’.

FREEDOM4 Communications encompasses numerous business divisions, including WiMAX-powered wireless broadband provider FREEDOM4 and GX Networks, the parent company for the Web hosting and business brands.

These incorporate Vialtus Solutions, 123-reg, WebFusion, Supanames and Donhost. Business will persist as normal for the brands and will continue unchanged, with the solitary change being made in the reference to the parent company.

Web Hosting World » FREEDOM4

Host Europe Purchases Freedom4 for £120m

Pipex renamed to FREEDOM4