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]