Tiscali offloads TiNet

3 Feb 2009

The Italian internet service provider Tiscali has sold its international networks business to local private equity firms BS Private Equity and BS Investimenti. The firms will buy Tiscali International Network (TiNet) for EUR47 million (USD60 million), Reuters reports, though the deal is still subject to regulatory approval. TiNet, which offers internet connectivity on three continents, will continue to supply Tiscali with internet services after completion of the transaction. TiNet reported turnover of EUR35 million and EBITDA of EUR10 million in 2008.

Italy, Tiscali