Pipex who is currently looking for a new owner may find itself without anyone to buy the company after another potential bidder has pulled out.

The £450m action for the company had, at one stage, seen the UKs heavyweights battle to put in a bid, but the quest maybe over as only one potential bidder remains. So far BSkyB and Virgin media have quit the action, and now another potential suitor, BT, have decided to do the same leaving only The Carphone Warehouse in the frame.

The interest maybe short-lived as The Carphone Warehouse sees the asking price as over inflated, and when compared with it's purchase of AOL it does seem this way. Last year bought AOLs 1.5m broadband customers for £370m, which seems a bargain when compared to Pipex's 600,000 customers which may cost it closer to half a million.