Peter Dubens emerges as potential buyer for Friends Reunited

LONDON - Peter Dubens, the internet entrepreneur who founded Pipex Communications, has emerged as a potential bidder for Friends Reunited, the ITV-owned online social networking site.

Friends Reunited...potential fresh bid
Friends Reunited...potential fresh bid

Dubens' private equity company, Oakley Capital, is reported to have offered ITV around £15 million for the ailing business, a massive 90 per cent decrease in the amount that the broadcaster paid for the company in 2005.

ITV is said to be desperate to get rid of Friends Reunited, and officially put the company up for sale in February, after a fall in online ad revenues saw the value of the site plummet.

Friends Reunited has also experienced a huge decrease in popularity in recent years, following the emergence of rival networking sites such as Facebook, MySpace and Twitter.