Tiscali says still studying offers of interest

Mon Jun 30, 2008 6:28pm BST
 
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MILAN (Reuters) - Italian broadband operator Tiscali (TIS.MI) said on Monday it was still studying offers from parties interested in its assets, missing a June 30 deadline it had set for itself for finding a buyer.

"Several hypotheses are still being analysed," it said in a statement. "(Tiscali) ... intends to continue the evaluation process of alternatives aimed at achieving the objectives of growth and value creation for the Group."

The sale of Tiscali's assets has attracted a lot of attention, especially in Britain.

Vodafone (VOD.L) had been seen as the most likely buyer because it could take both the Italian and British divisions. But it has pulled out of the auction, according to a source.

Other contenders who are still in the running include BSkyB (BSY.L) and Carphone Warehouse (CPW.L), Italy's Wind and Switzerland's Swisscom (SCMN.VX), according to newspaper reports.

Last week, Telecom Italia's (TLIT.MI) head said he was closely following the sale, reviving market expectations that the telecommunications operator could make a bid.

Analysts have noted that the auction was dragging on a bit, but explained that Tiscali was looking to sell at a time of tight credit markets, increasing pressure on consumer spending and slowing broadband growth.

Tiscali shares closed up 0.3 percent at 2.03 euros before its latest statement was released.

 
A share trader is pictured behind a mock one dollar bill and a mock 500 Euro note symbolizing a consumer credit note, at the German stock exchange in Frankfurt, December 18, 2008. REUTERS/Kai Pfaffenbach
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