6/20/2008 5:43:00 PM
Vodafone ends its interest in buying Tiscali
Vodafone is reported to have to ended its interesting buying Italian-owned broadband provider Tiscali.
Vodafone was understood to be eyeing up a bid for the UK and Italian arms of Tiscali for around £1.3bn, but the interest is believed to have waned.
Shares in Tiscali dropped by more than 9% to just over two euros per share following news of the Vodafone decision.
Carphone Warehouse had lined up a bid for Tiscali’s UK-division which was said to have been ditched in favour of Vodafone’s bid for the entire business.
Vodafone declined to comment.