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Thursday, June 17, 2010

Daisy Group sells its UK WiMAX business

Daisy Group has taken a break from buying UK telecoms businesses – most recently Fone Logistics – to sell its Freedom4 WiMAX business for £12.5 million.

Freedom4, which was formerly known as Pipex, had a 3.6GHz WiMAX licence for the UK. Rival WiMAX service provider UK Broadband, owned by Hong Kong-based PCCW, has now bought the spectrum.

Daisy said the WiMAX licence sale would save it £800,000 per year, while closing Freedom4 would save an additional £1 million annually.

[Sources: Telecoms.com; Cellular-News.com]

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