Belfast Telegraph

Saturday 19 April 2014

Tiscali suspends shares after BSkyB deals collapses

Shares in broadband provider Tiscali were suspended today after a sale of its UK business to BSkyB collapsed.

Tiscali had been in talks with the broadcaster since November, but said on Friday that worsening market conditions made it "impossible to proceed" with a deal.

The Italian firm will also ask lenders to suspend interest payments and covenant terms as it attempts to restructure its 500 million euro (£453m) debts.

Tiscali had almost 1.8m UK broadband customers at the end of September last year, making it the UK's fifth biggest supplier.