Update Tiscali calling up Carphone Warehouse? -
Tiscali calling up Carphone Warehouse?
The days are counting down to month’s end, when Italy-based broadband company Tiscali must get its banking arrangements in order. It now looks increasing likely that Tiscali’s British assets will go to Carphone Warehouse – and that a deal will be in place this week.
Should a deal get consummated then Tiscali’s UK subscribers numbering some 1.8m joining with Carphone’s existing 2.8m TalkTalk customers and propel Carphone into the UK’s Number 2 broadband supplier, behind British Telecom’s 4.7m.
However, the Fat Lady has yet to sing, and it is possible that with Tiscali’s UK assets being sold at a bargain basement price of around £350m, down some 45% on a year ago, it is always possible that an 11th hour bid might emerge from the sidelines. BSkyB, for example, reportedly declined to comment Friday.
Tiscali, in a statement April 24, confirmed "the existence of negotiations for the disposal of its activities." It added that the sale talks would proceed together with the ongoing debt renegotiation process.