Confused.com in possible £700m sale

Price comparison website Confused.com was today reportedly up for sale with a possible price tag of £700m (€1.03bn).

UKI motor insurance group Admiral is said to have entered into negotiations to sell the venture after it received a number of approaches for the business.

The Daily Telegraph said the group was now carrying out a strategic review of the operation, with a sale or demerger among the options.

Analysts predict Confused.com could be worth around £600m (€887m), but it is believed that Admiral’s bankers at Merrill Lynch are looking for around £700m (€1.03bn).

Confused.com, which is based in Cardiff, launched as a car insurance comparison service in January 2003 and has now branched out into home insurance, loans, credit cards and utility prices. It provided customers with 1.2 million quotations in 2006 and is expected to achieve earnings of around £30m (€44.3m) this year.