Biz (2599)

BSkyB bids for Tiscali

£450m for UK biz

3 November 2008 11:26 GMT / By Katie Scott

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There were rumours that Italian firm Tiscali was going to sell off its UK broadband business way back in March.

By May, the contenders were lining up and The Carphone Warehouse was at the top of the list of possibles with a £550m bid.

Days after the news was published, Tiscali announced that The Carphone Warehouse's offer was rejected as too low.

But now, BSkyB seems close to a deal with exactly the same offer.

A report in The Sunday Times suggests that BSkyB has now started due diligence on the deal, which could see the price come down.

The Carphone Warehouse is, in the meantime, believed to have withdrawn its interest in the broadband company.