Tiscali shares were given a boost today on the Italian stock exchange by reports that it is once again close to a deal to offload its UK operation to Carphone Warehouse.

Tiscali has been trying to sell its almost 1.8m subscribers for over a year, and Carphone Warehouse has been named as a suitor throughout. Italian papers said today its interest was renewed.

Sky and Vodafone reportedly pulled out of acquisition talks with Tiscali after balking at its £550m asking price. On Friday The Telegraph said Carphone Warehouse was now offering about £200m.

Tiscali's Italian owners now need the cash urgently to service its massive debts. Bankers agreed to suspend interest payments earlier this month to allow it to sort out its finances.

Soon after, auditors refused to validate Tiscali's annual accounts, citing fears it might go titsup. ®

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• Vodafone writes off £5.9bn (19 May 2009)
• Carphone Warehouse buys Tiscali UK (8 May 2009)
• Carphone Warehouse resolves union site ambiguity (28 April 2009)
• Tiscali titsup fears grow (16 April 2009)
• Tiscali shares suspended on titsup fears (9 March 2009)
• Tiscali TV's Italian cousin gets whacked (30 December 2008)
• Carphone goes bargain hunting in Tiscali sell-off (22 September 2008)
• Tiscali subscribers to be sold to Vodafone tomorrow: report (3 June 2008)
• Tiscali crosses Carphone Warehouse from bidders list (13 May 2008)