Carphone Warehouse out of running for Tiscali

Despite having offered £550 million for the UK division of Italian based Tiscali, it would appear that they have been left of the list of selected bidders.

If this turns out to correct then it will deal a serious blow to the plans for Talk Talk to be able to compete with the other UK providers.

Tiscali were initially looking to get six good bidders in, who they can then open the business up to.

With this list completed, then negotiations could commerce after the bidders had been looking through the company books and decided what sort of state the business is in.

From the UK it would appear that only Vodafone and BSkyB have been successful in getting through the first round.

Although it is not fully understood how the bidding will develop, it is believed that Tiscali will have to split the business into two by forming a UK and European arm.

The Carphone Warehouse would have become the largest broadband provider in the UK if the deal had gone ahead; the question now is what next for the Carphone Warehouse?

Story link: Carphone Warehouse out of running for Tiscali