By Lisa Burroughes, 26 January 2000 17:41
NEWS Deutsche Telekom is to float 10 per cent of its ISP T-Online in April this year. The proposed floatation is expected to be valued at around E30bn (£18.3bn), according to reports, and has been based on a comparison with the flotation of Freeserve in the UK and Freenet in Germany. However, analysts point out that this is not comparing like for like. Daniel Bieler, Internet analyst at Nomura, said: "Comparing a subscription-free business model with a subscription-based revenue model would undervalue it." T-Online is currently one of the largest ISPs in Europe. It has more than 4.2 million customers and claims to be increasing the number of subscribers by 200,000 per month - giving it a 50 per cent growth rate for 1999.
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