Feeds

Tiscali titsup fears grow

Auditors say no

Beginner's guide to SSL certificates

Tiscali's struggle for survival has been dealt a blow by auditors, who refused to sign off its accounts, citing "fundamental uncertainties" about the firm's future.

The Italian broadband group, which has about 1.8 million UK subscribers, said on Wednesday that it disagreed with Ernst And Young's conclusion.

It said it had provided all the necessary financial information, but the auditor's action means independent bean counters had worries about its accuracy. Tiscali stock sank more than 6 per cent on the news.

Last month Tiscali shares nosedived and were suspended when it emerged it had missed a repayment on its €500m debt. It has since negotiated a repayment freeze with banks, until June.

Without sign off from auditors, Tiscali must now report monthly on its finances to the Italian stock exchange. The annual results Ernst and Young had been examining showed the group lost €242.7m in 2008.

Tiscali's attempt last year to sell off its UK business to a rival such as Sky, TalkTalk or Vodafone failed. All apparently balked at the asking price, which is now likely to be falling by the day. ®

Secure remote control for conventional and virtual desktops

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
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?
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.