MILAN: European internet services giant Tiscali, which recently put itself up for sale, has snubbed ardent British swain Carphone Warehouse – presumably on grounds that its indicative offer of £550 million ($1.08bn; €694.4m) for Tiscali's UK assets was inadequate.
Carphone, one of seven suitors for Tiscali's fair hand, is the sole inamorato not to make it through to the next round of negotiations.
The rejection is a blow to the ambitions of Carphone ceo Charles Dunstone. The acquisition of Tiscali would have propelled his TalkTalk broadband service to numero uno position in the UK market.
Despite this disappointment, Dunstone is otherwise on a roll after sealing a joint European retailing deal with US giant Best Buy earlier this week.
Data sourced from Financial Times; additional content by WARC staff