UK enterpreneur nets €78m with Pipex sale

Entrepreneur David Rickards cemented his place on the British rich list yesterday, after selling his internet company, Pipex, for £55m (€78.5m)

The bulk of the Pipex deal was paid in cash, reports in UK papers said today.

Established in 1991, Pipex was the UK's first commercial Internet Service Provider (ISP), set up to deliver high speed, high quality corporate Internet access.