Tiscali eyes Tele2's Italian business

Sat Jun 9, 2007 4:34pm BST

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MILAN (Reuters) - Italian Internet services provider Tiscali (TIS.MI) is planning to buy the Italian business of Swedish telecoms operator Tele2 (TEL2b.ST) which it values at 350-400 million euros (238-272 million pounds), an Italian newspaper said.

Tiscali has already made a proposal to the Swedish company, but it was not clear if Tele2 was willing to sell, financial daily Il Sole 24 Ore said on Saturday.

The newspaper said Tiscali sources have confirmed the interest in Tele2 Italia -- which has 2.5 million clients -- but said "there was nothing on the table" yet.

Tiscali declined to comment on the report. It has previously said it aimed to grow in Italy.

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