Vodafone (NYSE: VOD) – thought to have been the likeliest candidate to buy on-the-block ISP Tiscali – has pulled out of the running for the whole of the company, leaving the Italian company to carve itself up, FT.com reports.
Unfortunately for Tiscali, none of the four remaining suitors – BSkyB (NYSE: BSY), Carphone Warehouse, Italy’s Wind and Swisscom – wants to buy the operation outright. Instead, the British bidders would want Tiscali’s UK business, which includes IPTV and voice calls, while Wind and Swisscom, which already has Italian IPTV operator Fastweb, would want Tiscali’s native Italian assets.
Vodafone already acquired Swedish telco Tele2’s Italian operation last year; the Tiscali talks broke down over valuation disagreement, FT.com said.