Tiscali boss shown the door

Tiscali boss shown the door

February 29, 2016

Tiscali SpA has changed Chief Executive Tommaso Pompei with board member Mario Rosso and designated that the for sale signs may in reality be going out. Pompei will stay on as Director until the endorsement of the 2015 financial results.

Even though no authorized word has come from Tiscali, reports at Reuters indicate that Italy’s Fastweb, Vodafone and BT Group have all approached Tiscali as prospective buyers. Whether they would purchase the entire business, or if it will be split up is uncertain.

Some bidder may, for instance, only be concerned in the UK arm of the business. Tiscali also released introductory revenue figures showing a 34% increase to 910 million euros (£695 million).

The conjecture and contradiction in recent weeks of Tiscali looking to sell has been bewildering, and possibly when their latest results are out, we might hear definitive plans of what is happening with Tiscali.

timyeo

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