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Carphone Warehouse to acquire Tiscali

Mobile phone retailer and ISP Carphone Warehouse has agreed to acquire the UK assets of Italian ISP Tiscali, which will see it becoming the UK’s second-biggest broadband provider.

Carphone Warehouse has agreed to buy Tiscali’s UK business for £236m (€263m) in cash in a deal expected to complete in June. The deal is worth much less than the estimated £600m price tag Tiscali placed on its UK business last year. The company pulled out of talks with UK pay-TV operator BSkyB earlier this year.

Carphone Warehouse’s ISP brand Talk Talk will become the largest residential broadband provider in the UK. BT will remain the UK’s biggest ISP for residential and wholesale customers.