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Martha Lane Fox cashes in
The co-founder of lastminute.com, Martha Lane Fox, has reportedly sold off two million shares in the company, raising some GBP4.6 million in the process. According to The Independent newspaper, she reportedly said: “I guess I am selling right now because it seems like the right time. I still have eight million shares in the company and I still have an enormous amount of faith in it.” Lane Fox, who floated off the company with Brent Hoberman in 2000, said she had no “spending spree” planned after selling off the shares, but reportedly admitted that retail “might be her next move”. She is quoted as saying that she would not be involved in a start-up, and that she would avoid the dot.com world, adding: “I’ll tell you when I announce it.” Shares in lastminute.com dropped 1.4% in value on the news. Report by Tim Gillett, News From Abroad
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