Tiscali losses narrow; short list of bidders emerges

Italian telecom Tiscali said it lost $58.5 million in the first quarter, down 12 percent from $66.3 million a year ago, on sales that topped $431 million, up 43 percent from $301 million. Tiscali said strong voice revenue and solid growth in its ADSL sector--it added roughly 500,000 ADSL users on the year--spurred the growth.
 
Bu the story of the day may have been the emergence of a short-list of bidders for the telecom, one that didn't include Carphone Warehouse. Telecom giants BskyB and Vodaphone are thought to be among the half dozen companies who will get a chance to examine Tiscali's books.
 
A Carphone/Tiscali marriage would have made Carphone Warehouse the largest broadband provider in the U.K., surpassing BT and Virgin Media.
 
For more:
- See the Times story [1] on who's in … and out ... of the bidding
- Read the Forbes story [2] on Tiscali's tough quarter

Related articles:
Mobile operators line up for Tiscali bids [3]   
Telecom Italia considering Tiscali buy? [4]