The Wiser Customer Weblog

With a huge debt of £453 million and a continuously deteriorating state of operations putting its survival under question, Tiscali is again making efforts to sell its UK arm. Earlier efforts of reaching a deal had failed after all interested buyers declined the offer citing the initial price of £600 million set by Tiscali as too high.

The Carphone Warehouse, which most observers feel is the most likely candidate to clinch a deal, had earlier refused to buy Tiscali UK saying that the price was not right. Carphone had recently made news by announcing that it was planning to demerge from TalkTalk, a broadband service provider. Click for more info on broadband providers.

Tiscali has now brought down its price to a dismal £250 million, amounting to less than half of what it was initially hoping to get. Talks are once again being held with most of the potential buyers with Tiscali desperate to pay off its debt.

Although, the price is much lower than expectations, the company’s shareholders, suppliers, and management will heave a sigh of relief at the fact that at least some money can be raised to lower the debt burden.

With the economy showing some signs of improvement, the company would be hoping that its operations can soon get back on track and it can resolve some of its troubles.