Tiscali targets UK operations sale by March

February 4, 2009 at 16:52 Leave a comment

Italian service provider Tiscali aims to finalise the sale of its British operations by the end of March 2009, Reuters reports citing comments by the company’s chief executive Marco Rosso. In November 2008 it was revealed that Tiscali was in talks with BSkyB regarding the UK-based subsidiary, but disagreements over the value of the assets saw the discussions stall. Tiscali had said it expected to raise GBP600 million (USD856 million) from the sale but BSkyB valued the unit at GBP450 million. Mr Rosso also said that Tiscali is planning for the eventuality that it may not divest interest in the UK arm; ‘We have a plan approved internally for one option or the other, nothing is excluded. The major effort is concentrated on reaching agreement on a sale.’

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Entry filed under: BSkyB, Financial, Italy, Reuters, Tiscali, UK. Tags: , , , , , .

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