De Benedetti Tiscali UK invests in up to 156 million

M & C (Management & Capitali), the fund of Carlo De Benedetti, agrees with Tiscali, Italian telecoms operator, to invest from 50 million to 165 million euros in the UK subsidiary Tiscali UK in ways which may vary from the subscription of a bond convertible capital increase. The operation, it said in a note, will be structured according to needs financial support necessary for the integration project and the business plan for the development of Pipex, a leading operator in the fields English voice and broadband operator recently acquired Sardinian. The completion of 'move has expected before the end of 2007.Tommaso Pompei, CEO of Tiscali, said: Â "We are pleased to partner with Management & Capitali, in addition to the one recently completed for 650 million with Bank Intesa Sanpaolo and JP Morgan, and offers Tiscali further flexibility financial in pursuing development opportunities and plan their industrial environment. " With the acquisition of the assets of Pipex by Tiscali UK, the group Tiscali has established a leading position rank among the top four players in the UK, with significant growth prospects and with the objective of a potential listing in the next three years . The news of 'investment in M & C in the British subsidiary of Tiscali has favored the title of' Internet service providers Sardinian who has seen a rise in shares which are wheelies and has stabilized and are in the market value of 2.13 euro each, marking a gain of 0.38%.

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