UK operator Pipex has received a takeover offer for its hosting and network business. The company started a strategic review last year which led to the sale of its consumer broadband business to Tiscali. After receiving a number of offers, it is now in "advanced" talks to sell the hosting and network business to one buyer. Pipex has proposed to distribute to shareholders the proceeds of the disposals through a share buyback, if the sale goes ahead. This would leave the company only with its WiMAX venture, which it still considers as a long-term growth opportunity. The wireless venture with Intel has already launched services in Manchester and Milton Keynes. Pipex has proposed a shareholders meeting on 3 March to vote on the intended capital reduction required for the proceeds distribution as well as a name change for the remaining company to Freedom4 Communications, the brand used for the wireless services. As part of the sale to Tiscali, the latter acquired rights to the Pipex name.
