Technology

Tiscali rejects reports of takeover and financial difficulties

Tiscali has firmly rejected reports that it could be acquired by either Wanadoo or T-Online in the coming year. The pan European ISP has also denied reports that it is experiencing financial difficulties. An assessment by bankers J P Morgan said that Tiscali would run out of cash by the end of 2003 and would not generate any profit until 2006.

Staff Writer July 1, 2002

Tiscali has denied all of the newspaper reports that claim that it is in negotiations with other companies regarding a possible acquisition of its business. Tiscali also countered claims that it was in financial trouble by pointing to the E150 million bond that has been recently issued to increase the company’s financial flexibility. The company said that it expects to be cash flow positive in Q4 of 2002.

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