Vodafone pull out of Tiscali bid

It was almost a foregone conclusion that the Italian based telecom company Tiscali would be falling into the arms of the Vodafone group.

But now it looks as if this not going to happen, as Vodafone seem to have decided that Tiscali is not going be to be for them.

As a result of this decision shares in Tiscali have fallen by over nine per cent to just over two euros per share.

This will cause the company even more problems when it comes to valuations if and when the other bidders decided to take a look at the books.

However this may not be the end of the Vodafone deal, as their bid was for the whole of Tiscali.

If a company like the Carphone Warehouse or BSkyB go for the UK division, then maybe that will be the cue for Vodafone to take the rest of Tiscali.

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