Feeds

Tiscali crosses Carphone Warehouse from bidders list

Dance card amended

Providing a secure and efficient Helpdesk

Tiscali has written up a wish list of companies it would like to sell itself to, and Carphone Warehouse has not made the cut.

The Italian ISP held a board meeting yesterday and drew up a list of would-be bidders, but CPW was dropped because its offer was considered too low. Tiscali's market cap is just over €1.4bn and CPW last week offered £550m (€694m). Tiscali shares fell 3.5 per cent in early trading today.

The list was drawn up during a four-hour board meeting yesterday. The board is prepared to open up Tiscali's books to six of the seven bidders and hopes to have a deal done as early as next month, according to the FT.

Mario Rosso, Tiscali’s chief executive, told the paper: “Until now, the process has been going exactly as expected. In the definition of the shortlist, we have not considered those who did not realise the industrial value of the group.”

Anonymous sources said CPW's only chance of getting back on the short list was to raise its offer. Such negotiating by media briefing may bring CPW back to the table, or it may decide to take its £1bn windfall from Best Buy somewhere else instead.

The list is believed to include Vodafone and BSkyB.

A spokeswoman for Tiscali told us the company would not comment on speculation. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
Same old iPad? NO. The new 'soft SIMs' are BIG NEWS
AppleSIM 'ware to allow quick switch of carriers
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Brits: Google, can you scrape 60k pages from web, pleeease
Hey, c'mon Choc Factory, it's our 'right to be forgotten'
Of COURSE Stephen Elop's to blame for Nokia woes, says author
'Google did have some unique propositions for Nokia'
It's even GRIMMER up North after MEGA SKY BROADBAND OUTAGE
By 'eck! Eccles cake production thrown into jeopardy
Mobile coverage on trains really is pants
You thought it was just *insert your provider here*, but now we have numbers
prev story

Whitepapers

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.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.