ABAKUS

The internet service provider AOL is understood to have put its French and German businesses up for sale. The company, part of the US media group Time Warner, is retaining its British business and will continue to operate internet portals in Germany and France.

Banking sources said yesterday that it had hired Citigroup to sell its internet access businesses in France and Germany. Analysts estimate the two units could be worth a total of €700m (£480m).

AOL's operations in both countries have struggled against the incumbents, France Telecom and Deutsche Telekom.