Tiscali continues strategic review

Italian internet service provider Tiscali, which offers dial-up and broadband services in Italy and the UK, says it is still considering a number of takeover offers. The company began its strategic review in April and had been expected to have made a decision by 30 June, but now says it ‘intends to continue the evaluation process of alternatives aimed at achieving the objectives of growth and value creation for the group’. The UK’s Vodafone Group was thought to be the leading candidate but recent press reports suggest that it is now unlikely to make a bid because of a disagreement over the purchase price. Other potential bidders include FastWeb and Carphone Warehouse.