FT.com Last updated: November 12 2006 19:18
American, British and other internet users are constantly bombarded with offers of low-priced internet connections.
Accessing the web via a telephone line – which may sound old-fashioned but is still used by millions – costs just a few dollars a month.
Yet people’s willingness to pay more than the absolute minimum needed for a basic web connection has surprised stock market investors. So much so that last year’s fears of an all-out price war that would erode profits – which hit cable and telecoms stocks – have all but disappeared.