Feeds

Tiscali titsup fears grow

Auditors say no

Eight steps to building an HP BladeSystem

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. ®

Bridging the IT gap between rising business demands and ageing tools

More from The Register

next story
Auntie remains MYSTIFIED by that weekend BBC iPlayer and website outage
Still doing 'forensics' on the caching layer – Beeb digi wonk
Apple orders huge MOUNTAIN of 80 MILLION 'Air' iPhone 6s
Bigger, harder trouser bulges foretold for fanbois
GoTenna: How does this 'magic' work?
An ideal product if you believe the Earth is flat
Telstra to KILL 2G network by end of 2016
GSM now stands for Grave-Seeking-Mobile network
Seeking LTE expert to insert small cells into BT customers' places
Is this the first step to a FON-a-like 4G network?
Yorkshire cops fail to grasp principle behind BT Fon Wi-Fi network
'Prevent people that are passing by to hook up to your network', pleads plod
BlackBerry: Toss the server, mate... BES is in the CLOUD now
BlackBerry Enterprise Services takes aim at SMEs - but there's a catch
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.