Freeserve relegated from FTSE

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The Independent Online

Freeserve has been relegated from the FTSE 100 list of Britain's leading companies.

Freeserve has been relegated from the FTSE 100 list of Britain's leading companies.

With investors more and more wary of internet stocks, the company's stocks have been on a steep slide, the form was also pushed out by the demergers of BG Group and P & O, creating 102 companies eligible for the index.

Shares in Freeserve, which has about 2.3 million customers, have slumped 83 per cent from a high of 977.5p reached on 10 March.

The company has suffered from a series of failed merger talks with its German rival T-Online, a decline in internet-related shares, and questions over the future of its business model.

Other internet companies have also suffered major losses in recent months, with QXL seeing shares fall from a high of 800p i April to 27p on Thursday.

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