(Adds details, share price)
MILAN Feb 3 Italy's BS Private Equity SpA and
BS Investimenti SGR have agreed to acquire Tiscali's (TIS.MI)
international network business, the Italian Internet company
said on Tuesday.
The transaction for Tiscali International Network carries an
enterprise value of 47 million euros ($60 million) and remains
subject to regulatory approval, the company said in a statement.
Shares in Tiscali, which had been in talks with British Sky
Broadcasting Group PLC BSY.L about the sale of its UK
business, were up 6.31 percent at 0.396 euros at 0809 GMT,
outpacing a 0.42 percent rise in the S&P/MIB index .SPMIB.
Tiscali International Network supplies Internet connectivity
on three continents. In 2008 it had earnings before interest,
tax, depreciation and amortisation of about 10 million euros on
sales of 35 million.
After the acquisition the business will continue to supply
Internet services to the Tiscali group, it said.
(Reporting by Nigel Tutt; editing by John Stonestreet)