Smart Tel buys Tiscali Switzerland

14 Sep 2004

Tiscali has sold its Swiss subsidiary to ISP Smart Telecom for EUR5.3 million in cash, as part of a plan to dispose of its non-core assets. The deal is expected to be closed in seven days and follows the recent sales of Tiscali’s subsidiaries in Austria, South Africa, Norway and Sweden. Tiscali needs the funds to repay a EUR250 million bond.