Pipex in £210m broadband sale

Internet firm Pipex is set to sell its broadband and phone business to Italian rival Tiscali for £210 m (€310m), it was reported today.

The sale of the division, which has more than one million consumer and small business customers, follows a four-month strategic review of the company by investment bank UBS.

Pipex chairman Peter Dubens had hoped to sell the entire business, but the company is set to unveil the Tiscali deal today, according to newspaper reports.