Tiscali set to acquire Pipex assets

13 Jul 2007

Tiscali, the Italian ISP, is poised to acquire the broadband and voice assets of Pipex Communications, the UK telecoms group, for about GBP210 million (USD420 million), according to London’s Financial Times. The sale is part of a strategic review Pipex began in March. The firm initially piqued the interest of many of its broadband rivals, including BT, BSkyB and Virgin Media, although these all dropped out at an early stage. Hopes for a deal were reignited in May when Massimo Cristofori, Tiscali’s chief financial officer, admitted his company was at a ‘very preliminary stage’ in exploring a Pipex deal.

Pipex has more than a million customers in its broadband and voice division, of which about 570,000 are high speed internet customers. The sale of the broadband and phone assets will leave it holding a smattering of telecoms assets including data hosting, domain name registration and a WiMAX licence.

United Kingdom, Pipex (part of Tiscali UK), Tiscali, Tiscali UK