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Broadband - Broadband News - Sky to pull out of Tiscali buy out

Sky to pull out of Tiscali buy out

9th March 2009

Sky are set to pull out of buying Tiscali as the valuation now seems too high

The sale of Tiscali UK is set to continue after it now looks like the sale to Sky is looking like it won't go ahead.

It was expected that the sale would of taken place around the end of March time but with the current unstable economic climate and the value of the pound it looks like the original valuation is now too much for companies to pay to buy Tiscali.

Tiscali is in allot of debt and the share price in the last year has dropped by over 80%, which is a substantial amount considering Tiscali UK was being offered for sale around a year ago.

Tiscali UK has around 1.77 million subscribers which makes it the fifth largest broadband provider and so there will still be interest from someone to take the customers on board.


Author: Rob Cook
Copyright: BroadbandWatchdog.co.uk - NetMediaUK.com


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