LONDON - Broadband ISP Excite@Home has raised $100m (£72.8m) in a sale of convertible notes, shortly after announcing that it needed to raise $75m (£54.6m) to continue operating.
The company had considered selling off its fibre backbone to AT&T, a majority stakeholder in Excite@Home, in order to raise cash. It had also considered selling its Excite portal. Last week, it announced the closure of its German, French and Spanish operations in a cost-cutting move.
The move to raise cash through convertible notes means that it is less likely to have to sell core assets, according to analysts.
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