By Ben King, 21 August 2001 12:26
NEWS ISP Tiscali is looking for takeover targets in the UK and Spain in a bid to become the continent's largest ISP. Tiscali is currently Europe's second largest ISP but CEO Renato Soru told Italian newspaper Il Sole/24 Ore that the company's stock price is currently so low it would not make sense to pay for acquisitions with stock. The company is looking to use its E900m (£567m) war chest to buy up ISP businesses and increase its footprint in Europe but Soru refused to make any comments about time frames or possible targets. Last year the company made 12 acquisitions, including the E8.2m (£5.2m) cash purchase of Spain's Inicia, which has 300,000 subscribers.
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