Tiscali boss gets boot
Tiscali SpA has replaced Chief Executive Tommaso Pompei with board member Mario Rosso and indicated that the for sale signs may indeed be going out. Pompei will stay on as Director until the approval of the 2007 financial results.
Although no official word has come from Tiscali, reports at Reuters indicate that Italy's Fastweb, Vodafone and BT Group have all approached Tiscali as potential buyers. Whether they would acquire the entire business, or if it will be split up is unsure. Some bidder may, for example, only be interested in the UK arm of the business. Tiscali also released preliminary revenue figures showing a 34% increase to 910 million euros (£695 million). The speculation and denial in recent weeks of Tiscali looking to sell has been confusing, and perhaps when their latest results are out, we might hear definitive plans of what is happening with Tiscali.