Tiscali considering Nouveau March listing

Renato Soru, the president of the group that bought LineOne off United Business Media and BT in the UK last week also told the AGM that the acquisition of LibertySurf had been concluded and that the accompanying share exchange would be completed “in the second half of May”.

Results for the year to 31 December 2000 showed Tiscali Group with revenues, excluding World Online, the acquisition of which was concluded on 7 December 2000 up 428% at EU173.2m, almost equal to the group's operating losses, which came in at EU173.4m, 18 times higher than those of 1999. The group blamed increases in marketing expenses, which increased almost tenfold to EU37.7m in 2000 and personnel expenses which increased eightfold to EU26.2m in 2000 resulting form the company's on-going European expansion for its deteriorating profitability.