By Pia Heikkila, 31 August 2001 11:30
NEWS Excite@home has sold its Benelux operations to Dutch ISP Essent Kabelkom in a desperate bid to raise more cash. The deal, for an undisclosed sum, is the latest attempt by Excite@Home to sell technologies and broadband services under Essent's brand. Earlier this week, Excite investor Promethean said it wants half of its invested $100m back after claiming the company had misrepresented its financial health. If Promethean manages to recoup its $50m Excite@home's survival chances look bleak, barring a further cash injection. The troubled ISP had $183m in the bank on 30 June, but has been burning through $100m per quarter.
In order to post a comment you need to be registered and logged in.
Log in or create your silicon.com account below