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Microcap & Penny Stocks : XSNI - X-Stream Network
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To: Jon C who wrote (2872)9/28/1999 3:17:00 AM
From: Jon C  Read Replies (2) of 3519
 
INTERVIEW: Freeserve considers buying rival ISPs to boost subscribers
Date: 28 Sep 1999 08:03:14
Service: AFX

---- by LIZ VAUGHAN-ADAMS ----

LONDON (AFX) - Freeserve PLC, the free internet service provider spun out of
Dixons Group PLC, will continue to buy in content for the site but is also now
looking at buying in subscribers, according to chief financial officer Nicholas
Backhouse.
"We raised net proceeds of 123 mln stg. We have have a cash balance, as at
quarter end, of 98 mln stg and the majority of the spend was accounted for by
our investment in GlobalNet, TelePost and Babyworld," Backhouse told AFX News in
a telephone interview after first quarter figures.
"As we go forwards you can expect us to be doing more of those acquisitions,
more content acquisitions. Evidently we will also have significant advertising
and marketing costs but as for big deals you'll just have to wait and see," he
said.
Asked if Freeserve will look at buying in users to swell its 1.4 mln strong
base, Backhouse said: "Clearly that is an option for us".
"We'd certainly look at acquisitions which give us more users but at the end
of the day it's a question of price," he added.
(more follows)
eva/je

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