Cazenove and Goldman Sachs led the sale of 40.4 million shares in Wanadoo, the French internet portal, for Dixons, the UK electrical goods retailer, raising €198m ($210m).

Cazenove is one of Dixon's registered brokers, the other being Schroder Salomon Smith Barney. Goldman also has a working relationship with Dixons. Goldman, alongside Morgan Stanley, managed the deal when Dixons first reduced its stake in Wanadoo in March 2001 using an exchangeable bond.