Carphone Warehouse reconsider a Tiscali bid
Carphone Warehouse could be about to make a renewed bid for Tiscali's UK arm following the suspension of share trading earlier this month. With Tiscali facing rocky times and believed to hold £558million in debt, the sale of part of its business may help pay towards some of this, and keep the rest of the business alive.
Tiscali have had the 'For Sale' sign out for around a year, and were unfortunate to reject various offers that were put forward for the company before the economic crisis set in. Talks with BSkyB, the last remaining party involved, faltered earlier this month over the price that Tiscali wanted for the UK business. Carphone Warehouse made various offers over the period of the sale, but Tiscali have rejected each. This last attempt at a bid could be a way to ensure that TalkTalk can increase their customer numbers before the administrators step in at Tiscali, as it would not be certain who would buy up the assets under those conditions, with many parties potentially interested in a bargain.