Carphone Warehouse buys AOL UK

Carphone Warehouse has bought AOL UK for £370m, following a protracted and secretive bidding war.Parent group Time Warner hired Citibank in the first half of this year to review the options for AOL UK. The consultants concluded that the company should abandon being an Internet service provider (ISP) in the UK to concentrate on its portal, which is benefiting from the online advertising boom.Carphone Warehouse became involved in June, when reports suggested chief executive Charles Dunstone wanted AOL UK’s expertise in unbundling …
