Deadline set for expressions of interest in Tiscali sale

17 Apr 2008

Tiscali, the telephone and internet service provider with operations in the UK and Italy, has set a deadline of 5 May for all parties to register their non-binding interest in the sale of the company. Those rumoured to be interested include Vodafone, BSkyB, Orange, Carphone Warehouse, Telecom Italia, Fastweb and Sky Italia. Many of the interested companies would like to buy either the Italian or UK units rather than both, but Tiscali’s board is expected to favour a single buyer for the entire operation. Vodafone, has refused to comment, but could be seen as a favourite as it has an existing presence in both countries. The UK group’s Italian operation purchased internet provider Tele2 last year while its UK broadband service uses BT’s network to provide access. Tiscali claims more than 1.8 million British broadband users, with its UK business estimated to be worth GBP550-GBP650 million (USD1.08- 1.28 billion); however, many of the potential bidders are expected to be looking to offer a much lower figure.

Italy, United Kingdom, Tiscali, Tiscali UK