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Tiscali news

Broadband provider Tiscali looks set to complete its purchase of UK firm Pipex following approval from the regulator.

The UK's Office of Fair Trading has given its seal of approval to the agreement, which was originally reached between the two companies in July this year.

A £210 million deal was agreed between the companies and it is now predicted that the transaction will be completed next month.

Italian group Tiscali said that Pipex shareholders have also given their backing to the agreement, meaning there now appear to be no stumbling blocks to prevent the deal from going through.

According to Tiscali, the agreement will result in £150 million in cumulated synergies over the first four years, with UK customers likely to see the benefits through cheaper broadband provision.

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