LibertySurf, the French answer to Freeserve that is part-owned by UK retailer Kingfisher, is to be floated on the stock market giving it an estimated value of £1 billion.
Although smaller than Freeserve, LibertySurf operates similarly, offering consumers free internet access and generating revenue via telephone charges and online advertising.
Freeserve's owner, retailer Dixons, floated part of the company in July. Although a rocky ride, Freeserve shares are now trading at four times the offer price of 150p. LibertySurf's owners are likely to float a much larger share of the company than the 20 per cent Dixons floated.
Given the current high value of internet stocks, a successful float will generate millions for its owners. Kingfisher owns 45 per cent of LibertySurf while Europ@web owns 40 per cent. The remaining stock is held by LibertySurf's management team.