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14 Dec 2009
AOL was today reported to be in talks to sell its ICQ instant messaging business to Russian investment group Digital Sky Technologies.
According to the Wall Street Journal, AOL has reached out to other potential investors as well as Digital Sky Technologies, which already has a significant stake in Facebook.
A person familiar with the talks told the paper that the deal could raise as much as $300m. AOL refused to confirm or deny the report when contacted.
The news follows an announcement by AOL that is has now officially split from Time Warner.
Chairman and chief executive Tim Armstrong said, “Our content sites and advertising platforms give AOL a unique seat at the internet table and we intend to maximise these valuable assets and our scale to return our business to growth.”
His remarks have raised speculation that the firm might be looking to offload some of its non-core elements.
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