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08 May 2009
TalkTalk is set to become the UK’s largest residential broadband provider by gobbling up Tiscali’s UK operations.
TalkTalk's parent, Carphone Warehouse, and Italy-based Tiscali have reached an agreement for TalkTalk to acquire Tiscali’s local business for a cash consideration of £236m.
The deal, which is subject to EU competition clearance, is set to close by the end of June 2009.
Further reading
Charles Dunstone, chief executive of Carphone Warehouse Group, said: “We are delighted to be acquiring Tiscali’s UK business – we know the business well and the fit with TalkTalk is perfect.”
TalkTalk currently has 2.8 million broadband customers, compared with Tiscali’s UK tally of 1.45 million.
“In one step, it makes TalkTalk the UK’s largest residential broadband provider with more than 25 per cent residential market share and a total of 4.25 million customers,” said Dunstone.
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