Monday, 11 May 2009
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
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.