The business section of the London Telegraph is reporting this afternoon that Time Warner has contracted with Citigroup to carry out a strategic review of its stake in AOL Europe. The reason, the Telegraph concludes, is for it to evaluate whether to sell its stake in the European ISP, or parts of its stake, in order to concentrate on refocusing AOL as a content provider.
Bankers speculated that the whole of AOL Europe could be valued at €1bn, while the French business could be worth €250m and the German business is valued at around €450m.
Telecom Italia is seen as one possible buyer for the ISP. An acquirer would gain access to AOL Europe’s six million customer base, its main asset.