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Tiscali sale to be renegotiated

Posted 9th October 2009 at 12:18pm by Kimberley Howson

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Carphone Warehouse is renegotiating its offer for Tiscali

TalkTalk's parent company has announced plans to renegotiate the price it is paying to acquire Tiscali.

The Carphone Warehouse is looking to amend its £236 million offer for the company after it was revealed the broadband provider has around 160,000 less customers than previously claimed.

As the deal was made on a per-customer basis, the Times has suggested the value of the takeover may drop by up to £25 million.

Charles Dunstone, Chief Executive of Carphone Warehouse, told the newspaper that figures relating to the deal were "effectively overstated".

He added: "When we looked in the cupboard there was less than we had been led to believe."

Earlier this week, Carphone Warehouse revealed that TalkTalk enjoyed a "stronger than expected" performance during the second quarter of this year.

In a trading update, it revealed that the UK broadband provider added 77,000 net new customers over the period analysed.

More news on: TalkTalk, Tiscali

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