Oct. 15 (Bloomberg) -- Experian Plc, the world's largest credit-checking company, fell in London trading after saying it won't sell its PriceGrabber price-comparison Web site because of the tight funding for potential buyers.

Experian declined as much as 33.25 pence, or 10.1 percent, to 296.75 pence and closed at 300.5 pence. That's its steepest fall since Oct. 6, 2006 and values the company at 3.1 billion pounds ($5.4 billion).

Experian received ``many expression of interests'' for PriceGrabber that didn't turn into bankable agreements, Chief Executive Officer Don Robert said today on a conference call. Experian will develop the unit, which accounts for about 3 percent of group revenue, he added.

``There is a disappointment that they haven't done anything more aggressive with PriceGrabber,'' Kevin Lapwood, an analyst at Seymour Pierce, said by phone today. ``Otherwise the numbers are very good, mature credit markets still suffering but emerging markets are blazing away.'' Lapwood upgraded his stock rating to ``hold'' from ``sell'' today.

The company agreed to sell its transaction processing activities in France to Doc@Post, a unit of French postal service operator La Poste, and private-equity firm Advent International for about 203 million euro ($276 million) in cash. It will use the proceeds to repay bank borrowings, it said today.

Experian has cut costs, moved operations to locations such as Chile and combined units, including computer-systems support as the global credit crisis reduces demand from mortgage lenders and credit card issuers for credit checks. In May, the company upgraded its target for annual savings to $110 million, from a previous goal of $80 million.

`Market Change'

``We are in a midst of a significant market change, which is likely to last for some time,'' Robert said. ``The short term outlook is less clear now than it has been at any time during the past twelve months.''

The company said first-half revenue rose as cost cuts and growth in its Interactive and Decisions Analytics units helped to offset dwindling demand for credit services.

Sales, which exclude the effect of acquisitions and currency swings, advanced 3 percent in the six months ended Sept. 30, Experian said today in a statement. That beat the 2 percent median estimate in a Bloomberg News survey of four analysts.

Total revenue for the period, including the effect of currency swings, rose 13 percent, Experian said.

Organic sales at the Interactive unit added 9 percent while revenue at Decision Analytics advanced 7 percent in the period. Sales at Credit Services, which accounts for about half of revenue, were flat, it said. Marketing Services unit revenue was also flat.

`Remain Vigilant'

``Environment is rough but there are many significant opportunities and we remain vigilant on costs,'' Robert said.

The company is ``on track'' with the cost cutting program and will take ``additional'' cost cuts if necessary, Robert said. It is not considering any further disposals.

Sales in the U.S., including the effect of currency swings, advanced 2 percent. In the U.K. and Ireland, sales rose 1 percent, the company said. Revenue in Asia Pacific and the rest of Europe advanced 33 percent. Latin America sales grew 157 percent in the period.

Experian employs around 15,500 people in 38 countries, according to its Web site. Its clients include financial and insurance institutions, retailers, telecommunication, automotive and utility companies.

To contact the reporter on this story: Lenka Ponikelska in London lponikelska1@bloomberg.net

Last Updated: October 15, 2008 11:46 EDT