Tiscali sale drags on
Tiscali were expected to make an announcement at the end of June detailing the plans for the company with regards the purchase of the UK and Italian businesses after putting itself up for sale in February. The deadline has however now passed, and no buyer has yet been announced.
"Several hypotheses are still being analysed. (Tiscali) intends to continue the evaluation process of alternatives aimed at achieving the objectives of growth and value creation for the Group."Tiscali Statement
Earlier this month saw Vodafone, a bidder thought to be interested in the combined Tiscali business, pull out. Tiscali stock dropped by 21 cents to 1.82 euros this morning after closing at 2.03 last night before the statement was released. This is a large 10% drop in value after gaining 13% so far this year.