|
World Online in deal talks
|
 |
August 8, 2000: 4:31 a.m. ET
Internet service provider confirms it's in discussions with Italy's Tiscali
|
LONDON (CNNfn) - Shares of Dutch-based Internet service provider World Online jumped about 8 percent Tuesday after the company confirmed it's in "exploratory" merger talks with Italy's Tiscali S.p.A..
A combination of the two companies would create Europe's second biggest Internet service operator, after Germany's T-Online.. World Online provides Internet access in 16 countries.
In a brief statement late Monday, Rotterdam-based World Online said it is engaged in ongoing discussions with Tiscali, Italy's largest ISP, as well as other European Internet and telecom companies about potential link-ups.
"Discussions with Tiscali are exploratory in nature and therefore we cannot anticipate whether these discussions will lead to agreement on future co-operation," the company said.
World Online shares jumped 11 percent Monday after reports surfaced Friday that the two companies were in talks, with Tiscali believed to be the potential acquirer and World Online the takeover target.
On the Amsterdam stock exchange, World Online stock climbed 0.95 euros to 13.15 euros early Tuesday. Shares of Tiscali slipped 0.20 euro to 51.7 in Milan. 
|
|
|
|
|
|
Tiscali
World Online
|
Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney
|
|
|
|
 |
|
