Kitz Forum
Announcements => News Articles => Topic started by: kitz on March 30, 2009, 02:54:25 PM
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Here we go again.
From thinkbroadband (http://www.thinkbroadband.com/news/3919-carphone-warehouse-reconsider-a-tiscali-bid.html)
Carphone Warehouse could be about to make a renewed bid for Tiscali's UK arm following the suspension of share trading earlier this month.
and from the Telegraph (http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/5071650/Carphone-Warehouse-plotting-Tiscali-bid.html)
It follows the collapse of negotiations between the Italian company and BSkyB, in which the satellite broadcaster would have become the country's third-largest provider of residential broadband with 3.6m customers. There is also speculation that BSkyB is considering renewing talks.
Carphone's TalkTalk home broadband division hopes it will be able snap up Tiscali for a bargain basement price. Tiscali is believed to be on the verge of collapsing into administration
Tiscali was suspended from the Italian stock exchange earlier this month after it warned that it will not be able to meet interest payments. It had been planning to use the proceeds from the sale to pay down its €601m (£558m) debt.
The internet company had originally put its UK business up for sale for about £500m, but it is understood that BSkyB only offered to pay about £250m.
Tiscali's UK business has been haemorrhaging customers for sometime. It had just 1,774,000 in September, down from 1,838,000 in the previous quarter.
Last Friday Tiscali's creditors gave it a stay of execution by agreeing to suspended interest payments on its debts. But analysts believe it will fall into administration if it does not find a buyer for the UK business soon.
If it does collapse its customers would be sold to another provider at a discount price.
Mr Dunstone has publicly said that he is considering splitting TalkTalk, Carphone's fixed-line and broadband business, from its retail stores, which will convert into Best Buy Europe, a new joint venture with American electronics group. Best Buy Europe plan to open four or five stores in the UK this summer, before expanding to about 100 across Europe by 2012.
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Hi
Carphone's TalkTalk home broadband division hopes it will be able snap up Tiscali for a bargain basement price. Tiscali is believed to be on the verge of collapsing into administration
From T To TT is it like jumping from the frying pan into the fire ? :lol:
Regards Jeff
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I`m surprised that the interested parties don`t wait for the company to go into administration.
Then they can Cherry pick which bits they want at knock down prices.
I suspect Sky is watching very closely?