Tiscali in trouble

10 Mar 2009

Shares in the Italian-owned internet service provider Tiscali were suspended from trading on Monday after their value dropped by 40%. The falls came after Tiscali announced that it would ask bankers to suspend interest payments after a deal to sell its UK assets to satellite broadcaster BSkyB had fallen through. According to a report from Reuters, Tiscali’s long-term debt stands at EUR500 million, EUR400 million of which is a loan and the rest are credit facilities. Tiscali has internet operations in Italy and the UK.

Italy, Tiscali, Tiscali UK