Auditor rejects Tiscali accounts raising questions about its future

Ian Grant

Tiscali, which has about three million UK broadband customers, has had its accounts qualified by its auditor.

In a statement to the Milan stock exchange this morning, Ernst & Young said it was unable to express an opinion on the communications company's 2008 accounts and could not say whether Tiscali could continue as a going concern unless it renegotiated its €500m debt, the Financial Times reports.

Tiscali disputed the decision, citing timing differences. However, the company has been losing customers in the UK, its biggest market. It put itself up for sale more than a year ago and talks to sell the UK operation to BSkyB fell through in March.

Email Alerts

Register now to receive IT-related news, guides and more, delivered to your inbox.
By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy

COMMENTS powered by Disqus  //  Commenting policy