Pipex to spin off WiMAX venture, sell remaining assets (UK)The UK’s Pipex Communications has announced plans to spin off its WiMAX venture Pipex Wireless and sell its remaining web hosting and business services activities. Developed with Intel, Pipex Wireless has been testing wireless services in a handful of cities in the UK and is set to launch commercial services in the fourth quarter in Manchester. Meanwhile, as part of the company’s strategic review, Oakley Capital has shown interest in acquiring the rest of Pipex. Peter Rubens, a limited partner at Oakley, also sits on the Pipex board. An independent board committee, excluding Rubens, will be set up to evaluate offers for the rest of the group. Pipex also reported its first-half results, showing sales up 58 percent to GBP 188.9 million, of which GBP 153.1 million was from the broadband and voice activities recently sold to Tiscali. Before tax, the group had a loss of GBP 8.5 million, versus a profit of GBP 0.8 million a year earlier, hit by higher operational, amortisation and depreciation charges as well as the start-up costs for the wireless venture and interest associated with a bond issue.
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