Report: Tiscali working on U.K. asset sale

As Italian telecom operator Tiscali attempts to re-negotiate its debt, the company also is in the midst of negotiating the potential sale of its U.K. assets of the company to Carphone Warehouse Group (one of our favorite company names in the industry), The Wall Street Journal reports.

Sale talks related to Tiscali's U.K. assets have been rumored and reported in the past, but Tiscali reportedly has confirmed the talks, without naming with whom it is talking. Tiscali got some bad news earlier this month when its auditor, Ernst & Young, refused to sign off on the company's financial results.

Tiscali has 1.8 million broadband customers in the U.K., and Carphone Warehouse Group could become the second-largest broadband operator in the U.K. if the sale happens.

For more:
- The Wall Street Journal has this story

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E&Y said recently it wouldn't sign off on Tiscali's 2008 results
Tiscali shut down its IPTV service in Italy a few months ago

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