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Time Warner to Sell AOL Business in U.K. for $688 Million

Authored by Mark Hefflinger on October 12, 2006 - 1:17pm.
Dulles, Va. - Media giant Time Warner has struck a deal to sell its AOL Internet access business in the United Kingdom for $688 million to Carphone Warehouse Group, a mobile phone retailer and provider of residential telecom services in Europe. AOL has about 2.1 million ISP customers in the U.K. Dick Parsons, the chairman and CEO of Time Warner, said that the deal "completes the restructuring of our AOL Europe businesses." AOL has been moving away from its Internet access roots and migrating toward an advertising-supported business model.
http://www.timewarner.com/corp/newsroom/pr/0,20812,1544859,00.html 
http://www.cpwplc.com

tags: Deals | Internet | UK | Investing | AOL | Acquisitions | ISP | Portals | Time Warner | Carphone Warehouse |

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