Monday, 11 May 2009

Tiscali, the dream is over

Tiscali group on 2001

Tiscali has sold Tiscali UK to Carphone Warehouse Group for 255.5 million of GBP. After years of sales, the dream of a italian-based european provider is over.

Renato Soru created Tiscali on January 1998.

October 1999: IPO (Tiscali enters the stock market during the dot-com bubble). People pay 46 euro for 1 share of Tiscali.
May 2009: (after the stock split 10:1 of april 2000) the same investor would have 10 shares of the value of 0.416 euro each, never a dividend.

Tiscali, son of the dot-com bubble, victim of bad management.

Chief executive officer
1998-2004 Renato Soru
2004-2005 Ruud Huisman
2005-2008 Tommaso Pompei
2008-incumbent Mario Rosso

Wednesday, 6 May 2009

as roma for sale - no future for Sensi group

If you look at financial statements of Compagnia Italpetroli (owned by 51% by Sensi sisters and by 49% by Unicredit bank), it's difficult to understand how the group can keep going.

ebitda is getting worse (14.431 million of euro on 31-12-2006; 4.365 million of euro on 31-12-2007)

ebit is getting worse (-1.718 million of euro on 31-12-2006; -8.497 million of euro on 31-12-2006)

debt is huge and is growing (381.208 million of euro on 31-12-2006; 396.715 million of euro on 31-12-2007)

The only solution (to try to survive) will be the sale of as roma, it's only a matter of time.
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