6/4/2008 1:02:00 PM
Vodafone lining up formal offer for broadband provider Tiscali
Vodafone is due to make a formal offer for Italian broadband outfit Tiscali according to reports from the Italian press.
A successful bid would make Vodafone one of the largest players in the fixed-line broadband services market, putting it on a more equal footing with BT, Carphone Warehouse, Virgin Media and BSkyB.
There are understood to be at least five other companies shortlisted for the auction to buy Tiscali, but Carphone is believed to have missed the shortlist after its offer of £550m was rejected.
Analysts expect Tiscali to go for a price tag of around £1.3bn for the entire company, including UK and Italian operations.
Tiscali is currently the fourth largest broadband provider in the UK with around 1.2 million customers.