cancel
Showing results for 
Search instead for 
Did you mean: 

Tiscali shares suspended after value falls by 50 percent

techguy
Grafter
Posts: 2,540
Registered: 12-09-2008

Tiscali shares suspended after value falls by 50 percent

Looks like Tiscali is starting to default on its debts.
http://www.theregister.co.uk/2009/03/09/tiscali_suspended/
19 REPLIES
Community Veteran
Posts: 18,545
Thanks: 191
Registered: 12-08-2007

Re: Tiscali shares suspended after value falls by 50 percent

Crunch day tomorrow.  They are due to make interest payments on their loans which they are trying to delay.
Community Veteran
Posts: 3,181
Thanks: 19
Fixes: 2
Registered: 31-07-2007

Re: Tiscali shares suspended after value falls by 50 percent

Would hate to be a customer of theirs but can't say im not pleased that they are finally getting their just deserts.
Unvalued customer since 2001 funding cheap internet for others / DSL/Fibre house move 24 month regrade from 8th May 2017
Community Veteran
Posts: 3,486
Registered: 02-10-2008

Re: Tiscali shares suspended after value falls by 50 percent

Yes - but they have 100's of thousands of customers - many but not all on LLU.
So what happens - do LLU customers get cut off, but those with BT Wholesale ? ? ?.
Community Veteran
Posts: 18,545
Thanks: 191
Registered: 12-08-2007

Re: Tiscali shares suspended after value falls by 50 percent

They've always had a bad reputation.  It's surprising they have so many customers but guess that's down to pricing.
I read that BT were asked if they were interested but turned them down.
pierre_pierre
Grafter
Posts: 19,757
Registered: 30-07-2007

Re: Tiscali shares suspended after value falls by 50 percent

If they goe bust and the LLU equipment is just standing there will BT pick it up for nothing to cover the debt?  Grin Grin
Moderator
Moderator
Posts: 17,249
Thanks: 904
Fixes: 104
Registered: 11-01-2008

Re: Tiscali shares suspended after value falls by 50 percent

I believe that some of the landlords of Adam's did something similar by changing the locks and keeping the stock when rent wasn't paid for a while.
Will Moderate For Thanks
Community Veteran
Posts: 18,545
Thanks: 191
Registered: 12-08-2007

Re: Tiscali shares suspended after value falls by 50 percent

The administrator would deal with this.  They would try and sell the equipment to another company.
pierre_pierre
Grafter
Posts: 19,757
Registered: 30-07-2007

Re: Tiscali shares suspended after value falls by 50 percent

thats what Tiscalli has been trying to do, no one wanted to pay the price
Community Veteran
Posts: 18,545
Thanks: 191
Registered: 12-08-2007

Re: Tiscali shares suspended after value falls by 50 percent

Yes, but you've missed the point. Tiscali wanted market value whereas an administrator would sell for the best price he could realise irrespective of how low this may be. 
techguy
Grafter
Posts: 2,540
Registered: 12-09-2008

Re: Tiscali shares suspended after value falls by 50 percent

Good riddence, I know plenty of customers of this outfit that joined because they were cheap but had no end of problems with broadband service and billing.
It's a wonder they've survived this long, will be interesting to see what happens to the rest of the business like the IP backbone.

Community Veteran
Posts: 3,486
Registered: 02-10-2008

Re: Tiscali shares suspended after value falls by 50 percent

Given their inefficiency when I left them - and they wrote about 4 letters saying I owed them money - when I cancelled contract and paid any outstanding amounts due; I'm not surprised - that is a sign of a badly run company.
Good riddance  indeed - but sorry for the bulk of the staff of course.
But aren;t some PN customers still on Tiscallu LLU ?

Moderator
Moderator
Posts: 17,249
Thanks: 904
Fixes: 104
Registered: 11-01-2008

Re: Tiscali shares suspended after value falls by 50 percent

Community Veteran
Posts: 18,545
Thanks: 191
Registered: 12-08-2007

Re: Tiscali shares suspended after value falls by 50 percent

Sounds like they are just putting off the inevitable.
techguy
Grafter
Posts: 2,540
Registered: 12-09-2008

Re: Tiscali shares suspended after value falls by 50 percent

What a shame.