Carphone/Tiscali deal receives green light

30 Jun 2009

Carphone Warehouse has secured approval from European Union (EU) antitrust authorities for its GBP236 million (USD388 million) acquisition of ISP Tiscali UK, reports Reuters. The European Commission said that the two operators had overlaps in the provision of retail and wholesale internet access and that the deal would not impede competition. Following successful completion of the transaction, Carphone Warehouse will leapfrog Virgin Media as the UK’s second largest broadband operator with approximately 4.3 million customers. Tiscali, based in Italy, says it will use the proceeds from the sale to restructure its debt.

United Kingdom, TalkTalk, Tiscali UK