Report: AOL Looking to Sell UK Unit

English newspaper The Guardian said Friday that AOL now has plans to shed its British division, signaling the company is about to exit the European market. With 2.2 million subscribers, the company is Britain's third largest Internet service provider. It is believed that Citigroup has been given the task of selling AOL UK, as it has for both the company's French and German divisions.

It is not clear at this time whether or not AOL plans to either strike a partnership, or is looking to completely shed the unit altogether. However, press reports indicate that AOL has placed all options on the table. No timetable has been placed on the completion of a sale.