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Tiscali Teeters
10 Mar 2009 | 10.34 Europe/London
Tiscali's shares have been suspended on the Milan stock exchange after falling 40% and a debt interest payment will be missed after talks with BSkyB about acquiring Tiscali(UK) came to an end.
With a market capitalisation on suspension of about €100m but a reported €500m of debt it seems that receivership and a fire sale of the assets are the most likely outcome. Tiscali's UK ISP division has about 1.8m retail customers (including Pipex and Nildram brands) and the Wholesale division provides LLU and Datastream services to other ISPs and resellers.
With a market capitalisation on suspension of about €100m but a reported €500m of debt it seems that receivership and a fire sale of the assets are the most likely outcome. Tiscali's UK ISP division has about 1.8m retail customers (including Pipex and Nildram brands) and the Wholesale division provides LLU and Datastream services to other ISPs and resellers.