STOCKS NEWS EUROPE-Tiscali leaps on report of Sky Italia interest

Fri Nov 22, 2013 6:14am EST

Shares in Tiscali rise 8.7 percent to the top of the FTSE Italia all-share index on talk the internet provider is being targeted by Sky Italia, a satellite TV operator owned by U.S. media group News Corp's .

In an unsourced report, Italian daily Milano Finanza says Sky Italia is looking at Tiscali but adds no advisers have been appointed.

"The idea of selling Tiscali could be quite reasonable... but we need to wait for a hint, a sense, anything from Sky," says a Milan-based trader.

Talk of a Sky Italia interest in the internet provider has emerged before.

Sky Italia could not be reached for comment. Tiscali declined to comment.

Sky Italia currently offers packages bundling TV, phone and Internet services in partnership with telecoms company Fastweb, which is owned by Swisscom.

Last week, Tiscali reported net profit of 0.3 million euros ($403,800) for the third quarter, compared with a 3 million euro net loss in the same period of 2012.

Reuters messaging rm://isla.binnie.thomsonreuters.com@reuters.net ($1 = 0.7429 euros) ($1 = 0.7429 euros)

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