PayPoint secures new investors and remains independent
PayPoint, a leading UK payment collection network, announces that a group of leading institutional investors have bought the 54.4% stake owned by British Telecommunications plc and EdF Energy plc.
This agreement was reached after the previous arrangements between BT, EdF and Alphyra had terminated. This means that Alphyra neither has any stake in PayPoint nor will it be taking over PayPoint as it previously implied in its statement of 27th February 2004.
Dominic Taylor, Chief Executive, PayPoint said: "This is a massive vote of confidence in PayPoint and its management team. We have attracted a group of high quality institutional investors who have bought the stakes of two of our original investors who wished to sell. We would like to thank BT and EdF for their tremendous support as founding shareholders in PayPoint and we are delighted that they remain as long term committed clients. PayPoint has a great future ahead as an independent company and we are looking forward to introducing a number of new products and services in the coming months which we believe will benefit our customers and retailers."
Enquiries:
Finsbury Group 020 7251 3801
Rollo Head
Don Hunter
About PayPoint
PayPoint is the UK’s leading branded network for cash payments, collecting payments for the London congestion charge, most utilities and a quarter of all mobile phone electronic top-up payments in the UK.
PayPoint now handles more than three million transactions each week at over 11,000 stores in the UK, handling a total of more than £1.6 billion each year.
