Carphone Warehouse reopens Tiscali talks

Posted on 24 Apr 2009 at 14:32

Carphone Warehouse has again emerged as the favourite to buy Tiscali’s ailing UK broadband business.

Carphone Warehouse pulled out of talks last year after baulking at Tiscali’s £600 million asking price, but burdened by a £450 million debt and auditors questioning whether it can continue as a going concern, the ISP’s Italian owner is thought to be prepared to accept around £250 million.

Carphone Warehouse declined to comment and Tiscali would only say that the talks “take place in parallel with the debt re-negotiation process”.

Tiscali is the UK’s fifth biggest ISP and if Carphone Warehouse does take over, it will add 1.7 million subscribers to its own 2.8 million, enabling it to pass Virgin Media to become the number two provider, with just 150,000 fewer subscribers than BT Retail.

Author: Simon Aughton

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