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Broadband customers of Tiscali can look forward to 'greater bandwidth and capacity' after Carphone Warehouse agreed to buy the Italian group’s UK arm for £236million. Charles Dunstone, Carphone’s chief executive, also promised them “advanced services” under the deal to create a single network for subscribers of both providers. Like its customers, Tiscali’s UK staff will be migrated to TalkTalk, which will become the largest provider of broadband to UK homes, with 4.25m subscribers. This means Carphone’s broadband uptake trails only to BT, whose retail division has 4.7m broadband customers, because it counts small businesses as well as homes. Analysts at Citigroup reportedly say that the deal makes financial sense, as at £236m, they told the FT that Carphone paid about £150 for each Tiscali broadband customer. Everyone of Tiscali’s 1.45m subscribers were assured by Mr Dunstone of “uninterrupted service” which includes a continuation of their existing email address. The acquisition does pose some challenges however, notably the migration of Tiscali customers to the integrated network and to one billing and customer service system. Carphone could gain up to £50m in savings by 2011, and earnings per share for this year should rise 10%, assuming the integration is approved and managed correctly. May 11, 2009 Email this article Printer friendly page Previous Page
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