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Tiscali Sale Update - Still Considering Interest
By: MarkJ - 01 July, 2008 (1:21 PM)

Tiscali has failed to find a buyer in time for its self-imposed 30th June deadline, which expired last night. In a brief statement today the UK and Italian ISP said that it still intended "to continue the evaluation process of alternatives aimed at achieving the objectives of growth and value creation for the group."

The ISP's sale process suffered a major blow last month when Vodafone appeared to withdraw its offer, which many regarded as the strongest at a value of roughly 1.26bn. It's believed that the Carphone Warehouse Group PLC, which had been the previous front running prior to Vodafone's entry, may now be back in the running, albeit only for Tiscali's UK division.

Meanwhile Tiscali claims to have received and discussed indications of interest from several "important industrial operators", though it chose not to elaborate. It's worth pointing out that Vodafone had previously hinted that it might work closer with The Carphone Warehouse if they were to win.


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