Carphone Warehouse makes GBP250 million bid for Tiscali’s UK arm

7 May 2009

The Financial Times is reporting that Carphone Warehouse has made an informal offer of GBP250 million (USD376.5 million) for the UK operations of Italy’s Tiscali. The report, citing source close to the deal, claims that a deal between the two companies could be officially unveiled as soon as this week, although it is understood the negotiations could still fall apart. Carphone Warehouse has, however, not confirmed the bid, while Tiscali has only said that it is ‘engaged in discussion for the disposal of its assets in the UK.’ If the acquisition is completed, the value of Tiscali’s British assets will be well below what the Italian parent company had hoped to raise; originally Tiscali had valued the UK unit at GBP600 million.

United Kingdom, TalkTalk, Tiscali UK