Carphone try and snap up a bargain
Carphone Warehouse are reported to have indicated renewed interest in the purchase of Tiscali UK's operations following the failed sale of Tiscali that was supposed to take place earlier this year. Talks broke down after Vodafone pulled out of the bidding in June, followed by BT and BSkyB.
The Sunday Times reports the Carphone bid at £450 million for the UK arm of Tiscali, down £100 million on their previous rejected offer. With the Tiscali share price down 34% in the last 3 months, and the economy in a shaky state, Tiscali may jump at the renewed interest allowing Carphone Warehouse to snap up a bargain. The acquisition would bump Carphone to being the largest broadband provider in the UK with around 4.6 million customers just ahead of BT with 4.5 million of based on July 2008 figures.