MILAN -(Dow Jones)- Italian telephone and broadband operator Tiscali SpA (Milan:TIS) ( TIS.MI) said Monday the process to sell the company continues as it is still evaluating several options.
In a short statement, the company - which started the strategic review in April with the appointment of its financial advisers - said it has received and discussed indications of interest "by important industrial operators."
The Sardinia-based company said it "intends to continue the evaluation process of alternatives aimed at achieving the objectives of growth and value creation for the group."
Tiscali shares gained almost 17% in the last three months, after the sale process was announced, but they recently suffered losses as investors fear the Italian broadband operator has failed to attract bids.
Reports in the U.K. and Italian press have indicated that Vodafone Group PLC (NYSE:VOD) ( VOD) has pulled out of the bidding for the Italian broadband provider.
Vodafone (NYSE:VOD) was for a long time perceived as the frontrunner in the bidding for Tiscali, and the only buyer likely for its combined Italian and U.K. operations.
Analysts said Vodafone's (NYSE:VOD) departure leaves Carphone Warehouse Group PLC (LSE:CPW) ( CPW.LN) as the favorite to buy Tiscali's U.K. operations, ahead of British Sky Broadcasting Group PLC (NYSE:BSY) (BSY). But none of the two companies have confirmed they submitted a bid for Tiscali's assets.
Italy's Telecom Italia SpA (NYSE:TI) (TI), Fastweb SpA (Milan:FWB) (FWB.MI) and Wind SpA have been tipped as possibly interested in Tiscali's Italian operations.
-By Giada Zampano, Dow Jones Newswires; +39 02 58219907; giada.zampano@ dowjones.com
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(END) Dow Jones Newswires 06-30-08 1254 Copyright (c) 2008 Dow Jones & Company, Inc.
