Vodafone denies rumors of a possible Tiscali broadband acquisition

Vodafone denies rumors of a possible Tiscali broadband acquisition

Mobile service providers Vodafone has played down rumors in the market which claimed that they were considering placing a bid for the UK Internet service provider unit of Italy’s Tiscali.

Vodafone is said to be planning to expand their services in the broadband market and such an acquisition can give them a head start.

Sunday Telegraph had said in a report that Vodafone had identified Tiscali’s UK business as one possible takeover target. However, they denied to reveal the source for this information.

Vodafone clarified in a statement: “This is pure speculation.” The news report instead had claimed: “The company knows it will only be able to prosper by offering a suite of products.”

The company is primarily in the mobile service market and this is seen as a potential risky situation in the longer run. Most of their competitors are offering a bouquet of services, which makes it more lucrative for the customer to opt for.