Tiscali says net loss narrowed after it made disposals

Italian internet service provider Tiscali SpA said Tuesday its net loss narrowed after the company made some disposals and acquired more profitable businesses.

The net loss for the nine months through Sept. 30 narrowed to euro8.8 million (US$12.9 million), compared with euro67.2 million in the same period a year earlier, the company said in a statement. Revenue rose 26 percent to euro614.3 million (US$897.4 million).

In July, Tiscali agreed to buy the broadband and voice divisions of the Britain's Pipex Communications Plc for 210 million pounds (euro310 million, US$427 million).

Based in Cagliari, Sardinia, Tiscali said in a statement that it saw Pipex broadband and voice operations generating 300 million pounds (euro442 million, US$609 million) in revenues in 2007. The deal raised the number of Tiscali's subscribers in the United Kingdom to 1.9 million.

In addition, Tiscali sold its operations in the Netherlands, Germany and the Czech Republic to focus on Britain and Italy.

Shares in the company gained 2.2 percent to euro2.355 (US$3.44) in Milan.