By Lisa Burroughes, 17 July 1998 17:56
NEWS Colt Telecom group has bought French Internet service provider (ISP) ImagiNet for Frs120m (£12m). ImagiNet adds another division to Colt's French telecoms subsidiary. The French company is primarily a corporate ISP and provides its customers with a number of services, including Web design. Mike Welsh, consultant at Ovum, said: "The French Internet market is way behind Europe because it already has Minitel, which both suppliers and customers have been very reluctant to move from. The Internet is a potential growth area, but Colt may also be looking to provide attractive call packages to its customers." The companies are still undergoing a £600m rights issue, which will be settled in two weeks according to Colt.
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