Feeds

Tiscali denies France sell-off reports

'Remains core asset'

  • alert
  • submit to reddit

Internet Security Threat Report 2014

Tiscali denies it is prepping the sale of Liberty Surf, its French operation, to France Telecom.

According to Italian press reports, the European ISP has already hired a bank to handle the sale. But a Tiscali spokesman told Reuters: "We deny that we are in talks with France Telecom about a sale of our French unit which remains a core asset for us. No mandate has been given to a bank."

The speculation comes as Tiscali is looking to raise cash to pay off a €250m (£173m) loan due next July. Last week Italian website AGI reported that Tiscali chairman, Vittorio Serafino, was confident that there would be news by the end of the year concerning the bond repayment, adding that more than half of the loan would be paid by the disposal of company assets.

Indeed, the company has already taken this path over the last year as it retreated from non-core countries. During Q3 it raised €81.3m (£56m) by flogging its businesses in Austria, Norway, Sweden, Switzerland and South Africa. The company has 7.7m active subscribers in Europe.

No one at Tiscali was available for comment at the time of writing. ®

Related stories

Tiscali eyes profit in 2005
Tiscali chops off Swiss arm
Lycos Europe buys Tiscali Sweden
Tiscali to squeeze overheads as losses swell
Tiscali to flog four country ops

Top 5 reasons to deploy VMware with Tegile

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
Simplify SSL certificate management across the enterprise
Simple steps to take control of SSL across the enterprise, and recommendations for a management platform for full visibility and single-point of control for these Certificates.