Tiscali buys Wanadoo Belgium
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Posted in Music and Media, 7th February 2003 13:45 GMT
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Tiscali has shelled out €9.5m in new shares for ISP Wanadoo Belgium.
A subsidiary of France Telecom's ISP outfit Wanadoo, Wanadoo Belgium has around 85,000 active users of whom 25.000 are ADSL punters. The company had a turnover of €13m in 2002.
Tiscali says the acquisition will confirm its place as Belgium's second-biggest ISP and consolidates its position as the leading ISP in the Benelux region.
In a statement the Italian ISP said: " Tiscali expect to implement a smooth integration process of Wanadoo Belgium that would not cause additional costs for restructuring."
Earlier this week Tiscali coughed up €8.86m in shares to buy Vodafone's fixed line Spanish ISP Airtelnet. Tiscali said the acquisition would strengthen its position in the Spanish market and help accelerate its bid to improve the company's profitability. ®
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