Tiscali chops off Swiss arm
Subsidiary offload continues
ISP Tiscali is selling its Swiss subsidiary to Smart Telecom SA, a Swiss internet service provider. The deal should close within seven days and Smart Telecom is paying €5.3m for the company.
The sale is part of Tiscali's stated intention to get out of "non-core" markets. The ISP has already disposed of businesses in Austria, South Africa, Norway and Sweden.
Tiscali shares have fallen more than 50 per cent in the last six months.
The full press release is available for download here. ®