Wanadoo acquires Internet service provider MyWeb from Macintosh Retail Group, snapping up 110,000 active users

June 14, 2002

1 Min Read

PARIS and MAASTRICHT -- Wanadoo S.A. and Macintosh Retail Group NV have reached final agreement on the acquisition of MyWeb BV by Euronet Internet BV, a wholly owned subsidiary of Wanadoo S.A., with effect from June 1, 2002. With the acquisition of MyWeb, Wanadoo strengthens its position as one of the top three Internet Service Providers in the Netherlands. The total active subscriber base of Wanadoo in the Netherlands will amount to half a million active subscribers, including the 110.000 active MyWeb users. Wanadoo offers to consumers in the Netherlands a complete range of internet access products for the residential market, including broadband internet and dial-up subscriptions. In addition, Wanadoo facilitates access to the web for its subscribers through its portal http://www.wanadoo.nl and offers a variety of services and information, through various thematic channels. The Wanadoo portal is one of the top 10 Dutch portals. Wanadoo also services the professional market in the Netherlands under the brand EuroNet Internet. Macintosh Retail Group decided to sell MyWeb due to changing circumstances in the internet market, in which economies of scale for internet service providers are considered necessary to generate an acceptable return. The proceeds of the sale partly offset the investments in MyWeb, which were written off in 2001, therefore resulting in a book profit for Macintosh Retail Group in 2002. Wanadoo SA

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