Tiscali confirms sale of French opo - finally
PrintTelecom Italia snaps up Liberty Surf
Posted in Financial News, 6th April 2005 10:42 GMT
Free whitepaper – Thermal design of Dell PowerEdge server
Tiscali has sold its French ISP business - Liberty Surf - to Telecom Italia, both companies have confirmed.
Telecom Italia is to shell out around €266m for Tiscali's 95 per cent stake in the business. Once the deal is complete, Telecom Italia will launch a public offer for the remaining 5 per cent of Liberty Surf's share capital, as required by law.
Liberty Surf in France has around 344,000 broadband punters and some 700,000 dial-up users. Last year it generated revenues of around €225m.
Tiscali is expected to use the proceeds from the sale of Liberty Surf to help pay off a €250m loan due in the summer. ®
Related stories
Tiscali France sale imminent
Tiscali France sale to be inked next week
Tiscali 'flogs French ISP'
Analyst Keynote: The Register Agile Data Center Summit
10 Steps to a Successful CRM Implementation
Market Primer: ERP Systems
What Exchange can't do - and Dell can
Enabling The Agile Data Center
Dirty, dirty PCs: The X-rated picture guide
Top 500 supers - rise of the Linux quad-cores
Early adopters bloodied by Ubuntu's Karmic Koala
Sign up, sign up for The Register IT security newsletter