Tiscali UK broadband to be bought by The Carephone Warehouse
8th May 2009
The Carphone Warehouse are to buy Tiscali UK broadband customers for £236 million and making TalkTalk the larest UK residential broadband provider
The Carphone Warehouse have put forward a deal worth £236 million to buy the UK arm of Tiscali, the Italian broadband provider.
The buy out from The Carphone Warehouse will mean that TalkTalk broadband, who are owned by The Carphone Wasrehouse, will become the UK's largest residential broadband provider with over 25% of the residential market share and a total broadband customer base of 4.25 million when they add the 1.7 million Tiscali UK broadband customers.
The Carphone Warehouse are also hoping that the buy out will help it reduce it's costs by £40m to £50m by March 2011.
Tiscali have been in financial trouble for quite a while and have been after a buyer to help pay off their debt which is over £500 million, this deal will go a long way to helping them reduce what they are left to pay and possibly help keep the company from going under.
Author: Rob Cook Copyright: BroadbandWatchdog.co.uk - NetMediaUK.com