Telecom Italia buys Liberty Surf

6 Apr 2005

Tiscali has agreed to sell its 95% stake in French ISP Liberty Surf to Telecom Italia for EUR266 million. Tiscali will use the proceeds of the deal to cut debt after earlier asset sales failed to yield as much money as it had originally anticipated. The acquisition of Liberty Surf will add 344,000 new clients to Telecom Italia’s ADSL operations in France, raising the company from the smallest of nine high-speed ISPs in France to the fourth largest behind Wanadoo, Free and AOL.

France, Telecom Italia (TIM), Tiscali