Feeds

Tiscali titsup fears grow

Auditors say no

Top three mobile application threats

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. ®

Combat fraud and increase customer satisfaction

More from The Register

next story
Virgin Media so, so SORRY for turning spam fire-hose on its punters
Hundreds of emails flood inboxes thanks to gaffe
A black box for your SUITCASE: Now your lost luggage can phone home – quite literally
Breakfast in London, lunch in NYC, and your clothes in Peru
AT&T threatens to pull out of FCC wireless auctions over purchase limits
Company wants ability to buy more spectrum space in auction
Turnbull leaves Australia's broadband blackspots in the dark
New Statement of Expectations to NBN Co offers get-out clauses for blackspot builds
Facebook claims 100 MEEELLION active users in India
Who needs China when you've got the next billion in your sights?
Facebook splats in-app chat, whacks brats into crack yakety-yak app
Jibber-jabbering addicts turfed out just as Zuck warned
Google looks to LTE and Wi-Fi to help it lube YouTube tubes
Bandwidth hogger needs tube embiggenment if it's to succeed
prev story

Whitepapers

Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.