7/6/2009 11:43:00 AM
TalkTalk group completes £236m acquisition of Tiscali UK
The TalkTalk group has ended months of speculation by announcing the acquisition of Tiscali UK for £236m.
The purchase will open up new opportunities for Opal, TalkTalk’s b2b division.
The agreement is unlikely to significantly impact on Carphone Warehouse, as the retailer will run its business completely separately to TalkTalk from next year.
Vodafone, BT and Sky had previously been touted as potential buyers for Tiscali UK, but TalkTalk has generally been considered the most likely buyer.
The £236m fee looks something of a bargain, with Tiscali UK initially setting the price tag at £500m. However, Tiscali’s mounting debt appears to have forced a sale at a knock down price.
Tiscali is Britain’s fourth largest Internet Service Provider.