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Tiscali auditors deal company another blow
Wednesday 15 April 2009 12:27:56 by John Hunt

More bad news for Tiscali today as Ernst & Young, Tiscali's auditors, dished out another blow by refusing to sign off on the accounts for year ending 2008 citing "the fundamental uncertainties on business continuity". They reported that the group's future was dependent on the successful conclusion of debt negotiations with its banks.

Tiscali put themselves up for sale last year to try and raise capital to cover costs of impending debt repayments however due to the decline of the economy, have not been able to find a party willing to pay its high price. The latest offer from BSkyB of around £350 million for the UK arm falls far short of the £600 million the company was originally expecting.

"The company, in disagreement with the conclusion drawn by the audit report, believes that it has co-operated at best and that it has provided all the information necessary to enable the independent auditors to issue an audit opinion on its 2008 financial statements.

"In particular, with regard to the process of debt negotiation, the company underlines that it has already obtained a period of standstill from the lending banks until June 2009."

Tiscali Statement

The news will likely be of concern to Tiscali's debtors who may be looking to limit the damage. Tiscali can appoint new auditors but they may well come to the same conclusions.

Comments

Posted by CARPETBURN over 8 years ago
Im off to buy party hats and nibbles, everyone is invited to the celebration which will take place the day after they stop trading and advertising their shambolic service.
Posted by cyberdoyle over 8 years ago
Yep, I have yet to hear someone praising them. Where did they go wrong?
Posted by digger78 over 8 years ago
I'm a happy tiscali user!! I know there's not a lot of us but there are a few.
Sure I've had a some problems in the past and had to call the dreaded tech support -who always tell you the problem is on your end not theirs.

considering the cost, I really can't complain, fairly solid connection.
Posted by Dixinormous over 8 years ago
'Considering the cost'. So the service isn't very good but it's cheap.
I will be glad to see them disappear. They went wrong by borrowing too much, charging too little, and being a rubbish service in a country that has much better options.
Posted by Egg_ over 8 years ago
Another happy Tiscali customer here too.
Same as I said on the recent TV article.
Posted by MCM999 over 8 years ago
"Another happy Tiscali customer here too"
Try telling that to those old time former LocalTel customers (acquired by Tiscali 8 or 9 years ago) who have just lost their screaming.net e-mail addresses due to Tiscali's negligence and incompetence in ignoring the many reminders to renew the screaming.net e-mail domain which has now been grabbed by another party.
Posted by Egg_ over 8 years ago
Funny you should say that I was an original screaming.net customer and got out after world online started increasing the charges
Posted by muymalestado over 8 years ago
And the Pipex customers of long standing? We've known since Michael Dell and Bill Gates that money talks louder than megabits.
Posted by chrysalis over 8 years ago
the company needs to die, the packages were never viable (as me and others pointed out) they have been a scourge on the market helping other providers forcefully keep their prices down. The likes of sky and O2 survive because they can subsidise from other revenues whilst tiscali cannot. Even after auditors pointed out their product isnt viable in its current position they still wont increase prices to make it viable.
Posted by andys999 over 8 years ago
Tiscali just need to get re-named services are good mainly especially the free line rental.
bt sky talk talk i would put into catagory of sXXt
Posted by lenaspell over 8 years ago
I am amazed at the lack of support to a company providing employment to several hundred UK employees whose livelihoods depend on Tiscali either finding a buyer or remaining independent. Sure they have their detractors and some complaints are valid but does that really justify Carpetburn suggesting having a party to celebrate the loss of hundreds of jobs. I think not. I am with Zen so have no axe to grind here.
Posted by comnut over 8 years ago
lenaspell: it is you that have not thought it out... CB is NOT talking about employees, but the management that have allowed it get so bad, and refusing to sell it off, so that those employees may have a chance of **keeping** their jobs!!

These 'several hundred UK employees' have been messed about by management who clearly do not think about the welfare of their staff, and dont care if the whole place goes bankrupt - they will then have no problem dumping their staff, due to employment contracts being void... and they can then just setup another company, and continue the shambles...
Posted by CARPETBURN over 8 years ago
Indeed comnut, spot on. Tiscali in the past have had several offers (around the 300 million mark each time if i recall correct).
I was not and i doubt anyone else was thinking UK people losing their jobs is a good thing, but if we want to go down that path. Isnt their tech support based in another country and isnt the company itself Italian?? Maybe if these UK employees we should feel sorry for were that good they would fix the issues UK customers have?
Posted by CARPETBURN over 8 years ago
Of course though these UK employees from basic phone person right upto high management either choose not to help UK customers (as seen on watchdog and the numerous times ofcom have investigated Tiscali UK for the numerous cock ups they make) Or they are tied by even higher ranking staff in the Tiscali organisation who just simply do not care and cant fix things. Their so called service obviously makes no money to fix things, if it did they wouldn’t be in the merde they are currently in....
Posted by CARPETBURN over 8 years ago
In short good riddance to the shower of incompetence as a great big whole may they Rot In Peace. Any decent UK worker of Tiscali from the minimum wage workers right up to any decent managers will finally be free to work for an organisation that treats them with respect.
Posted by bvpainter over 8 years ago
I'm also pretty happy with Tiscali. If they go under I am wondering where to go. Nobody else offers such a good deal as far as I can see. Anyway I guess I'm stuck with rthem as I have a 12 month contract, so cannot get out even if I wanted to.
Posted by drone69 over 8 years ago
Is that why they are trying to charge me for 3 weeks I`ve not been a customer, including line rental for the 1st time ever. I`m a very happy ex tiscali/pipex victim.
Posted by lenaspell over 8 years ago
Comnut: I didn't misunderstand the first comments at all and I quote
"Im off to buy party hats and nibbles, everyone is invited to the celebration which will take place the day after they stop trading and advertising their shambolic service."
If they stop trading employees will be without a job, I do not see that is anything to celebrate. Trying to persuade people to opt for another provider with objective reasoning is perfectly legitimate but CB seems paranoid about Tiscali.
Posted by lenaspell over 8 years ago
In today's economic climate it is not quite so simple as he suggests for 'decent UK workers or Managers' to go and find alternative jobs in either the industry or locale.
There are many Tiscali customers quite content with the package and service for the money paid. Personally I prefer to pay more for a better service with Zen but I wouldn't go out to celebrate the loss of people's jobs - which was my original point.

Posted by fleetgate over 8 years ago
About two month's ago I switched from Tiscali as I was constantly being disconnected from internet and e-mail use. I had numerous apologies from Tiscali, but NO ACTION. since switching, my connection has been constant and reliable (have not been offline once since change). I have also noticed a significant reduction in spam mail showing up in my inbox. There is no doubt in my mind that Tiscali's faults lie solely at upper management level.
Posted by CARPETBURN over 8 years ago
quote"CB seems paranoid about Tiscali."
Yep all in my mind, the company hasnt been on TV more than once with loads of unhappy users, they havent been investigated more than once by Ofcom for things like unbundling lines without permission, and they havent been in several newspapers... If thats a type of company or employees you feel sorry for i can only assume in life you enjoy being treated like dirt. If you can name one good thing the UK division of Tiscali have done for customers maybe then ill feel sorry for them.
Posted by lenaspell over 8 years ago
Clearly there is no further point in continuing the debate as you (CB) have now resorted to personal insults. I have mentioned twice before that I am with Zen and not with Tiscali and never have been.
Posted by shaunmullett over 8 years ago
The sooner this company is put down and the paying customers get the service they deserve, the better. They may have some satisfied customers but those of us that have suffered at the end of a phone for hours on end will be celebrating!
Posted by CARPETBURN over 8 years ago
quote"Clearly there is no further point in continuing the debate as you (CB) have now resorted to personal insults. I have mentioned twice before that I am with Zen and not with Tiscali and never have been."

Im sorry but where did i insult you??? I did nothing of the sort, i did state if you enjoy poor service you must enjoy being treated like dirt and that would apply to anyone on the planet.
Posted by CARPETBURN over 8 years ago
I still ask you to name one good thing about the UK division of Tiscalis staff, if you can do that some including myself may feel sorry for them, if you cant name a single thing the UK division haas done to improve UK customers services (you know the people that pay their wages?) then im sorry but nobody with and sense will give a damn about Tiscali.
Posted by CARPETBURN over 8 years ago
quote"They may have some satisfied customers but those of us that have suffered at the end of a phone for hours on end will be celebrating!"

Exactly, good riddence to bad rubbish that take peoples money, do nothing to fix issues and have the same morals when it comes to unbundling as an alley cat has towards mice. How anyone can say people should feel sorry for staff or a company which lets face it are in simple terms inept i really can not comprehnd.
Posted by 23skidoo over 8 years ago
It would be only good news if Tiscali are removed. Very of there negative impact on the market where providers unbundling using them . Without fail an immediate drop it quality , increase in outages and lowering of support options. We INSIST that any providers we use commit to not have any dealings with them , or plans to do so , Carperburn I assume that is why you are sensibly with Zen Internet . As for Jobs , I am sure as with all low value companies such as Tiscali the net effect of there removal will be an increase in sector employment in quantity as well as equally important quality.
Posted by CARPETBURN over 8 years ago
Im actually with Ukonline, a company where only your internet side of things is unbundled, they dont fiddle with your phone side of things, its pretty easy to move and the service gives you high speed for a good price.

Apart from that 23skidoo i agree with your post entirely :)
Posted by leshewitt over 8 years ago
Quote: andys999
"bt sky talk talk i would put into catagory of sXXt"

TalkTalk are fine for me. Over 5mb up, 1mb down, all my calls (to landlines) and line rental, all for a bit over £20. Totally reliable for around 18 months, since I joined them. Very good value for a pensioner!

A point I've made several times in various forums: You can always find a vocal minority who are having problems, and a massive silent majority who are just fine.
Posted by leshewitt over 8 years ago
Quote: "CARPETBURN
Im actually with Ukonline, a company where only your internet side of things is unbundled"

A very good point, CB. If I wanted to move, then I'd have go go for the full deal. There's a lot to be said for separate services.
Posted by johnvgoodman over 8 years ago
I am an ex ISP Customer Service Manager and Product Manager, having worked in the ISP environment fo over 10 years. In my experience Tiscali, all round, beat BT and Sky big time. The limited experience I have had of TalkTalk has been excellent. I use them at a charity shop who has their telephone and broadband service installed.
Posted by CARPETBURN over 8 years ago
quote"I am an ex ISP Customer Service Manager and Product Manager, having worked in the ISP environment fo over 10 years."
Care to name companies??

quote"In my experience Tiscali, all round, beat BT and Sky big time."

LMAO you are joking right? I hate BT but even i will admit they are more reliable than Tiscali oh and as for Sky jesus christ you can get 16Mb from them for as good as no charge... Tiscali better, LOL daydream.
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