Carphone Warehouse denies Tiscali bid

Posted on 22 Sep 2008 at 13:39

Carphone Warehouse has denied bidding £450 million for rival ISP Tiscali.

The Sunday Times reported at the weekend that Tiscali had submitted an offer, but a spokesman for the ISP denied that any fresh approach had been made.

Carphone Warehouse is one of several operators, along with BT, Vodafone and Sky, that have signalled an interest in Tiscali, which put itself up for sale in April.

If a bid is successful, Carphone Warehouse would become the UK’s biggest internet provider, less than two and a half years after it unveiled its first broadband and phone package.

Tiscali, which owns Pipex, has a tad over 1.8 million subscribers, making it the fourth biggest ISP behind Carphone Warehouse with 2.8 million. Market leader BT has 4.5 million, with Virgin Media’s 3.8 million putting it in second place.

Tiscali is said to be asking for £600 million, its current market valuation following a 49% fall since the beginning of June.

Author: Simon Aughton

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