UPDATE 2-Experian to keep Pricegrabber, H1 revenues up
* Abandons mooted Pricegrabber disposal
* H1 revenues up 13 percent
* Sees 150 million euros ($205 million) proceeds from French disposals
* Repositioning as bank clients prioritise debt collection
(Adds analyst reaction, CEO conference call comments, further detail)
LONDON, Oct 15 (Reuters) - Credit-checking firm Experian (EXPN.L) cancelled the mooted sale of its online price comparison business, Pricegrabber, causing Experian's shares to fall sharply.
In a trading update, in which the company reported a 13 percent rise in revenue in the first half of its financial year, Experian said it had decided not to sell the unit.
Experian said potential buyers were unable to finance acceptable offers in current market conditions.
The about-turn came eight months after the company put Pricegrabber on the market. Experian, best known for running consumer credit checks for banks and other lenders, paid almost $500m for the price comparison website in 2005.
"We received many expressions of interest, but given the financing environment, these did not convert into bankable transactions," Experian Chief Executive Don Roberts told reporters on a conference call.
By 0912 GMT, Experian shares were down 7.27 percent at 306 pence, while the FTSE 100 share index was 3.1 percent lower.
Seymour Pierce analyst Kevin Lapwood said: "People were expecting a bit more on the Pricegrabber side. They were expecting them to sell it on."
Experian also said its revenue for the six months to Sept 30 rose 13 percent, with acquisitions helping to offset flat revenue growth at the core credit services division, which was held back by a slowdown in lending as banks grappled with the credit crunch.
Experian's Roberts told reporters the company was repositioning itself as its banking customers increasingly prioritised debt collection. Continued...
