Savoy net offshoot

Listed investment company Savoy Equities has set up an internet subsidiary, eSavoy, to invest in mobile internet and wireless communications.

The subsidiary has a 75 per cent stake in youth-focused internet company ezebra and a 70 per cent stake in wireless network technology provider IPfinity.

Overseas, it owns 51 per cent of China's Jet-Tronic, which is involved in delivering financial information via pagers.

ESavoy may eventually be separately listed.

- NZPA