Tiscali loss narrows

15 May 2009

Italian ISP Tiscali has reported a net loss of EUR17.4 million (USD23.6 million) for the first quarter of 2009, an improvement on the EUR39.9 million loss posted in the corresponding period last year. Sales fell 25% to EUR202.6 million on the back of a fall in subscriber numbers in the UK and a weaker pound against the euro. Last week the company agreed a deal to sell its ailing British unit to Carphone Warehouse for USD355 million.

Italy, Tiscali