ISP Tiscali’s future in doubt

Italian ISP Tiscali is struggling to survive the recession, according to the company’s auditors. Accountancy firm Ernst & Young said that there were ‘fundamental uncertainties’ in Tiscali’s financial situation.

The company, whose UK business’s clients include Tie Rack and Unwins, has reportedly been trying to pay off its £450 million debt by selling its UK division, so far without success.

Potential suitor BSkyB turned down a £600 million offer earlier this year. According to an analyst quoted in the Daily Mail, the company would now struggle to sell the division for as much as £300 million.

Pete Swabey

Pete Swabey

Pete was Editor of Information Age and head of technology research for Vitesse Media plc from 2005 to 2013, before moving on to be Senior Editor and then Editorial Director at The Economist Intelligence...

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