Vodafone Hangs Up On Tiscali Deal

(19 Jun 2008, BWCS Staff)

UK mobile giant Vodafone will not bid for Italian fixed line ISP Tiscali after all, according to reports in this morning's Financial Times. The wireless company had been seen as the most likely to take over all of Tiscali's assets, as it has interests in both the UK and Italian markets. The news sent Tiscali's share price tumbling on the Milan bourse.

The London newspaper quoted a Tiscali spokesperson as saying "We do not comment on the details of the process. What I can say is no decision has been taken yet, all is open and Tiscali will decide by the end of the month."

According to the newspaper, Tiscali has received at least one offer, but Vodafone will not be throwing its hat into the ring. The four remaining companies said to be interested in making a bid are BSkyB, Carphone Warehouse, Swisscom which owns FastWeb, and Italian operator Wind.


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