Tiscali looking for offers

Could it be the end for Tiscali as we know it? If we are to believe what is coming out of Italy then maybe the company could be getting ready for a garage sale of some or even all of its assets. Apparently the Italian based company has been talking to some bankers and may have even hired JP Morgan and Intesa Sanpaolo Unit Banca IMI to give them help and advice on how to move forward.

Despite having the desired effect by raising the companies share prices by over 12%, the company are claiming that there are no formal offers on the table so far.

However it has been known for some time that there are a couple of interested parties who could be waiting just for the right time to strike, both Vodafone and BT from the UK are in the frame along with the Italian based Fastweb. Clearly the company must have a time table of which they wish to stick to, they are just not going to let anyone else know, yet!

Story link: Tiscali looking for offers