28/09/2006

Tiscali UK to dump 40% of staff

It's not actually as bad as it sounds as they are getting rid of 40% of the combined Tiscali and Video Networks staff (who they acquired last month - known as HomeChoice) but it's bound not to be good.

Tiscali are also borrowing money (at 11%) from SilverPoint.

The tie-up with HomeChoice should give Tiscali the edge by allowing them to offer video over broadband, but margins are ever decreasing as is pressure from other UK competitors.

The word is that Tiscali UK is up for sale and BSkyB and BT are the top bidders.

Another broadband provider falls into the consildation mess.
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