Newspaper article The Journal (Newcastle, England)

Carphone in Pounds 236m Deal with Tiscali

Newspaper article The Journal (Newcastle, England)

Carphone in Pounds 236m Deal with Tiscali

Article excerpt

CARPHONE Warehouse has announced a pounds 236m deal to buy the UK operations of troubled broadband firm Tiscali.

TalkTalk-owner Carphone said the takeover would give it 4.25 million broadband subscribers and seal its position as the UK's biggest residential broadband provider.

The deal raises hopes for stricken Italian group Tiscali, which is said to be on the brink of collapse, and had seen previous attempts to sell its UK business fall through.

Carphone said Tiscali's customers would continue to receive uninterrupted phone and broadband service, while their email addresses would remain the same.

Tiscali, which has about 1.7 million UK broadband customers, saw its shares suspended in March after BSkyB pulled out of lengthy takeover talks over the UK arm.

And the group was dealt a further blow last month after it said its auditors had refused to sign off its accounts, warning of "fundamental uncertainties" on business continuity. …

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