Eisa Dealt Another Blow by f2

In April, f2 announced it would manage and provide content for the portal of the combined Eisa/OzEmail business.

However, Eisa's proposed $300-350 million deal to acquire OzEmail has been hampered due to the so-called market correction in mid-April, which saw internet stocks, including Eisa shares, drop dramatically.

Under the original deal, f2 was to pay $40 million to acquire a 5 per cent equity stake in Eisa at $2 per share. Since Black Monday (April 17), Eisa shares have dropped continually, recording an all-time low today of 53 cents. Prior to the stock market crash, Eisa shares were trading as high as $3.18, before plunging to 93 cents on the morning of April 17.

Nigel Dews, chief executive of f2, admitted the market downturn had contributed to f2's decision to pull out of the deal, despite efforts to agree on new terms.

"We were unable to come to an arrangement on the deal in terms of what will work for shareholders," he said.

Dews, however, did not rule out the possibility of renegotiating a deal at some later stage should OzEmail be acquired by another player or should the market improve.

"OzEmail remains an attractive asset, so who knows? Our doors are always open for deals," he said.

According to Dews, f2 will continue to develop distribution deals through a number of different channels. "We will continue to work towards other options . . . portals are one of many options. This was one possible route," he said.

Eisa did not return calls before press time.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Luisa Bustos

PC World
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Tom Pope

Dynabook Portégé X30L-G

Ultimately this laptop has achieved everything I would hope for in a laptop for work, while fitting that into a form factor and weight that is remarkable.

Tom Sellers

MSI P65

This smart laptop was enjoyable to use and great to work on – creating content was super simple.

Lolita Wang

MSI GT76

It really doesn’t get more “gaming laptop” than this.

Jack Jeffries

MSI GS75

As the Maserati or BMW of laptops, it would fit perfectly in the hands of a professional needing firepower under the hood, sophistication and class on the surface, and gaming prowess (sports mode if you will) in between.

Taylor Carr

MSI PS63

The MSI PS63 is an amazing laptop and I would definitely consider buying one in the future.

Christopher Low

Brother RJ-4230B

This small mobile printer is exactly what I need for invoicing and other jobs such as sending fellow tradesman details or step-by-step instructions that I can easily print off from my phone or the Web.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?