Carphone Warehouse have today announced that subject to regulatory approval its purchase of Tiscali will be complete by June 09.
The deal is reported to have gone through at a cost of £236 million pounds to the expanding telecoms giant CPW, just a fraction of the £600 million that Tiscali were asking last year.
The move comes as unreliable connections and customer service woes have led to a sharp drop in the number of Tiscali customers in the UK and whilst accepting less than 50% of your asking price from a year ago is unlikely to be ideal from Tiscali’s point of view, it’s still considerably better than having to close-up shop altogether, as was rumoured last month.
The purchase will now mean that CPW have more than 4 million broadband subscribers and can officially be called the UK’s largest residential provider, with more than 25% of market share, according to Charles Dunston the CEO of CPW.
Whether or not the move can restore popular opinion of Tiscali is yet to be seen but CPW seem confident that it can make the move a success, saving £40-£50 million pounds in operational costs in the process. Obviously investors are happy though as the announcent this morning has already seen CPW’s share price jump more than 7% on the London Stock Exchange.
Do you have any experiences of Tiscali or TalkTalk that you’d like to share with us? If so, do it in the box below!
2 thoughts on “Carphone Warehouse buy Tiscali at knock-down price”
poor connection speeds and even last night internet off from 7pm until 10.00 am.been with tiscali for 6 years and have made repeated calls about connection speeds to no avail except reduction in monthly payment.which to me is like saying we cant deliver what your paying for so have what your getting at reduced cost.
i personally cant wait for CPWNto buy Tiscali. we are currently resellers of both CPW and Tisali and CPW are far superior by far