UK electrical retailer Dixons Plc is rumored to be considering spinning off its highly successful Freeserve free internet service provider to take advantage of rocketing ISP share prices. Estimates of FreeServe’s stock market value have ranged between $1bn and $3bn. Dixons CEO John Clare told the Financial Times newspaper that a Freeserve floatation may become an issue which we will have to think about in due course. This would mimic the action of Compaq Computer Corp, who last month announced its intention to float its search engine subsidiary Alta Vista on Nasdaq. Freeserve has signed up one million subscribers since its launch five months ago, making it the overnight market leader. Free ISPs make returns by taking a percentage of call charges through partnerships with telecom companies, and with premium rate help-lines. Dixons share price, which has almost doubled since Freeserve launched, dipped slightly Monday, closing at 10.50 pounds.