February 3, 2009 / 8:32 AM / 9 years ago

UPDATE 1-BS Private Equity buys Tiscali int'l network

(Adds details, share price)

MILAN, Feb 3 (Reuters) - 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)

$1=.7827 Euro

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