5/13/2008 11:17:00 AM
Carphone Warehouse reportedly fails in Tiscali bid
Carphone Warehouse is reported to have failed in its bid to buy the UK arm of broadband provider Tiscali.
Reports suggest Carphone has not made a shortlist of second round bidders, believed to be about six companies strong, one of which is understood to be Vodafone.
Tiscali is willing to break up its Italian and UK arms to help press ahead with a sale and bids for the UK division are believed to be around £550m.
If Carphone has failed it will be a big blow after last week’s Best Buy deal helped the company raise £1.1bn, part of which was set aside for investment in the broadband arm Talk Talk.
Bosses were targeting a possible takeover of Tiscali’s 1.7 million customers which would have made Carphone the UK’s biggest provider with 4.4 million customers.
Carphone Warehouse declined to comment.