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Tiscali Expects to Find Buyer Before May 2008

Posted: 31st Mar, 2008 By: MarkJ
UPDATE: The formal deadline for interest is now 5th May 2008.

The Italian Milano Finanza newspaper claims that Tiscali expects to have found a buyer for its Internet business before the company's annual general shareholders meeting on 29th April next month.

The papers sources believe that a price of between £2.38 and £2.62 per share would be fair. Indeed the report claims that up to 10 offers have already been made for Tiscali's UK business and about half as many for its Italian wing, though it is not possible to verify that.

Customers will be hoping that a reasonably credible UK company picks up the giant, which has suffered many service and support problems over the past few years.
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