Tiscali SpA http://www.alacrastore.com/company-snapshot/Tiscali_SpA-2105809 Friday, January 09, 2009 6:16:48 AM 2105809 Tiscali SpA en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/ccbn/T2025018ccbn/T2025018norm...Tiscali management welcomes you to their third quarter #### results presentation. A Q&A session will be available after the presentation. I now hand the call over to Mr. Mario Rosso, CEO of the Group. Please go ahead sir. ... 11/13/2008 12:07:00 PMTiscali SPA54.0000FinalTiscali SPA Q3 2008 Earnings Conference Call TranscriptTIS.MI12:00pm CETTranscriptT2025018Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/spcred/681846spcred/681846normThe latest Research Update from S&Pglobal11/7/2008 8:25:56 AM175Research Update681846ItalyInternet Software & ServicesEurope, Middle East, AfricaGlobal IssuersCorporationsTelecommunications & CableResearch UpdateOn Nov. 7, 2008, Standard&Poor's Ratings Services withdrew its 'B' long-term corporate credit ratings, and all debt and recovery ratings, on Tiscali SpA, an alternative provider of Internet, telephony, and TV services in the U.K. and Italy. The ratings withdrawal was made at the company's request and follows a review of their future financing strategy. The company has no public debt outstanding. Ratings Withdrawn To From Tiscali SpA Corporate Credit Rating NR/-- B/Watch Neg/-- Tiscali U.K. Holdings Ltd. Senior Secured EUR50 mil sr secd revolver credit NR B+/Watch Neg Recovery Rating NR 2 EUR50 mil sr secd term bank ln NR B/Watch Neg Recovery Rating NR 3ITA45101010 451010 4510 45Tiscali SpA386369EUROMIDAFRTIS@IMRESUPDGBRTiscali U.K. Holdings Ltd.436208EUROMIDAFRGLOBISSCORPTelecommunicationsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/681845spcred/681845normThe latest News from S&Pglobal11/7/2008 8:25:56 AM100News681845ItalyInternet Software & ServicesEurope, Middle East, AfricaGlobal IssuersCorporationsTelecommunications & CableNewsMADRID (Standard&Poor's) Nov. 7, 2008--Standard&Poor's Ratings Services said today that it withdrew its 'B' long-term corporate credit ratings, and all debt and recovery ratings, on Tiscali SpA, an alternative provider of Internet, telephony, and TV services in the U.K. and Italy. The ratings withdrawal was made at the company's request and follows a review of their future financing strategy. The company has no public debt outstanding.ITA45101010 451010 4510 45Tiscali SpA386369EUROMIDAFRTIS@IMNEWSGLOBISSCORPTelecommunicationsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/678271spcred/678271normThe latest Research Update from S&Pglobal10/22/2008 8:24:31 AM175Research Update678271ItalyInternet Software & ServicesEurope, Middle East, AfricaGlobal IssuersCorporationsTelecommunications & CableResearch UpdateOn Oct. 21, 2008, Standard&Poor's Ratings Services lowered its long-term corporate credit rating to 'B' from 'B+' on Tiscali SpA, an alternative provider of Internet, telephony, and TV services in the U.K. and Italy. At the same time, Standard&Poor's lowered its long-term debt ratings on the €50 million senior secured term loan and €50 million senior secured revolving credit facility (RCF) of financing vehicle Tiscali U.K. Holdings Ltd. to 'B' and 'B+', respectively, from 'B+' and 'BB-'; these loans are guaranteed by Tiscali SpA. The recovery ratings on these two debt facilities are unchanged at respectively '3' (indicating our expectation of meaningful {50%-70%} recovery in the event of a payment default) and '2' (indicating our expectationITA45101010 451010 4510 45Tiscali SpA386369EUROMIDAFRTIS@IMRESUPDGBRTiscali U.K. Holdings Ltd.436208EUROMIDAFRGLOBISSCORPTelecommunicationsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/678041spcred/678041normThe latest News from S&Pglobal10/21/2008 4:50:14 PM100News678041ItalyInternet Software & ServicesEurope, Middle East, AfricaGlobal IssuersCorporationsTelecommunications & CableNewsMADRID (Standard&Poor's) Oct. 21, 2008--Standard&Poor's Ratings Services said today that it has lowered its long-term corporate credit rating to 'B' from 'B+' on Tiscali SpA, an alternative provider of Internet, telephony, and TV services in the U.K. and Italy. At the same time, Standard&Poor's lowered its long-term debt ratings on the €50 million senior secured term loan and €50 million senior secured revolving credit facility (RCF) of financing vehicle Tiscali U.K. Holdings Ltd. to 'B' and 'B+', respectively, from 'B+' and 'BB-'; these loans are guaranteed by Tiscali SpA. The recovery ratings on these two debt facilities are unchanged at respectively '3' (indicating our expectation of meaningful {50%-70%} recovery in the event of aITA45101010 451010 4510 45Tiscali SpA386369EUROMIDAFRTIS@IMNEWSGBRTiscali U.K. Holdings Ltd.436208EUROMIDAFRGLOBISSCORPTelecommunicationsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/678042spcred/678042normThe latest Research Update from S&Pglobal10/21/2008 4:50:14 PM175Research Update678042ItalyInternet Software & ServicesEurope, Middle East, AfricaGlobal IssuersCorporationsTelecommunications & CableResearch UpdateOn Oct. 21, 2008, Standard&Poor's Ratings Services lowered its long-term corporate credit rating to 'B' from 'B+' on Tiscali SpA, an alternative provider of Internet, telephony, and TV services in the U.K. and Italy. At the same time, Standard&Poor's lowered its long-term debt ratings on the €50 million senior secured term loan and €50 million senior secured revolving credit facility (RCF) of financing vehicle Tiscali U.K. Holdings Ltd. to 'B' and 'B+', respectively, from 'B+' and 'BB-'; these loans are guaranteed by Tiscali SpA. The recovery ratings on these two debt facilities are unchanged at respectively '3' (indicating our expectation of meaningful {50%-70%} recovery in the event of a payment default) and '2' (indicating our expectationITA45101010 451010 4510 45Tiscali SpA386369EUROMIDAFRTIS@IMRESUPDGBRTiscali U.K. Holdings Ltd.436208EUROMIDAFRGLOBISSCORPTelecommunicationsCredit & Investment ResearchS&P Credit ResearchUK - Carphone Warehouse Group PLC was rumored to be planning to acquire the UK assets of Tiscali SpA, a provider of internet communication services. According to sources close to the situation, the deal was valued at an estimated ### million British pounds ($### million US).9/25/2008 3:22:52 PM14433V87710A14433V87299ZCarphone Warehouse Group PLCTiscali SpA-UK AssetsCarphone Warehouse Group PLCTiscali SpAhttp://www.alacrastore.com/storecontent/Thomson_M%26A/Carphone_Warehouse_Group_PLC_is_rumored_to_be_planning_to_acquire_Tiscali_SpA_UK_Assets_from_Tiscali_SpA-2014247040sdc/20142470402014247040Copyright © 2008, Thomson Financial, All Rights ReservedLondonMiscellaneous Retail TradeUnited KingdomRetail stores, nec5999FFForeignPublicCPW4812:Radiotelephone communications5065:Electronic parts and equipment, nec5999:Retail stores, nec4812:Radiotelephone communications5065:Electronic parts and equipment, nec5999:Retail stores, necBusiness ServicesUnited KingdomInformation retrieval services7375FFForeignSubsidiary130935003Ret mobile phonesPvd Internet commun svcsUnspecifiedAssets48127001Sep 25 20080.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000STG29 Mar 080.00000233.189000.000008872.288005606.84800British Pound0.000001.000002.000003.000004.000005.000006.000007.000008.000009.0000010.0000011.0000012.0000013.0000014.0000015.0000016.0000017.0000018.0000019.0000020.0000021.00000Carphone Warehouse Group PLC,located in London, UK, retailsmobile phones. The Group alsoprovides mobile communicationproducts and services andfixed line communicationservices. The Group'soperations are carried outthrough its Distribution,Telecom Services and Dealerdivisions. Distributionprovides mobile handsets andconnections, accessories andrelated products and services.Telecom Services comprisesmobile services operations andfixed line businesses,addressing SME and residentialmarkets. Dealer comprises saleof mobile hardware. Thecompany was founded in 1989.Carphone Warehouse Group PLC, located in London, UK, retailsmobile phones. The Group also provides mobile communicationproducts and services and fixed line communication services.The Group's operations are carried out through itsDistribution, Telecom Services and Dealer divisions.Distribution provides mobile handsets and connections,accessories and related products and services. TelecomServices comprises mobile services operations and fixed linebusinesses, addressing SME and residential markets. Dealercomprises sale of mobile hardware. The company was foundedin 1989.Carphone Warehouse Group PLC, located in London, UK, retails mobile phones. The Group also provides mobile communication products and services and fixed line communication services. The Group's operations are carried out through its Distribution, Telecom Services and Dealer divisions. Distribution provides mobile handsets and connections, accessories and related products and services. Telecom Services comprises mobile services operations and fixed line businesses, addressing SME and residential markets. Dealer comprises sale of mobile hardware. The company was founded in 1989.1.000002.000003.000004.000005.000006.000007.000008.000009.0000010.0000011.00000The UK assets of Tiscali SpA,located in UK, providesinternet communicationservices such as broadband &dial-up internet access,teleworking solutions, leasedlines, hosting services suchas collocation, shared hostingand managed hosting, voicebased telecommunicationservices.The UK assets of Tiscali SpA, located in UK, providesinternet communication services such as broadband & dial-upinternet access, teleworking solutions, leased lines,hosting services such as collocation, shared hosting andmanaged hosting, voice based telecommunication services.The UK assets of Tiscali SpA, located in UK, provides internet communication services such as broadband & dial-up internet access, teleworking solutions, leased lines, hosting services such as collocation, shared hosting and managed hosting, voice based telecommunication services.0.000000.000000.000000.00000N21 Sep 08Sun, 21 Sep 2008 00:00:00 ESTDate Announced: 09/21/2008Date Effective:Acq. of AssetsFriendly0.000000.000000.000000.000000.000000.00000Price/Share0.0000000.000000.0000000.000000.000000.000000.000000.000000.0000000.00000N0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000100.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.000008.000009.0000010.00000UK - Carphone Warehouse GroupPLC was rumored to be planningto acquire the UK assets ofTiscali SpA, a provider ofinternet communicationservices. According to sourcesclose to the situation, thedeal was valued at anestimated 450 million Britishpounds ($825 million US).UK - Carphone Warehouse Group PLC was rumored to be planning to acquire the UK assets of Tiscali SpA, a provider of internet communication services. According to sources close to the situation, the deal was valued at an estimated 450 million British pounds ($825 million US).UK - Carphone Warehouse Group PLC was rumored to be planning to acquire the UK assets ofTiscali SpA, a provider of internet communication services. According to sources close tothe situation, the deal was valued at an estimated 450 million British pounds ($825million US).UK - Carphone Warehouse Group PLC was rumored to be planning to acquire the UK assets of Tiscali SpA, a provider of internet communication services. According to sources close to the situation, thedeal was valued at an estimated 450 million British pounds ($825 million US).UK - Carphone Warehouse Group PLC was rumored to be planning to acquire the UK assets of Tiscali SpA, a provider of internetcommunication services. According to sources close to the situation, the deal was valued at an estimated 450 million British pounds ($825million US).Rumor735.00000117.600004474.400002827.600000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000Status:Rumor-999.00000np0.00000-999.00000np0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000004813:Telephone communications, except radiotelephone7372:Prepackaged Software7375:Information retrieval services130935003LondonUnited Kingdom5999ForeignPublicCPW4813:Telephone communications, except radiotelephone7372:Prepackaged Software7375:Information retrieval services599731002MilanItaly7375ForeignPublicTIS0.000000.000000.000000.00000Deal InformationTF Mergers & Acquisitionshttp://www.alacrastore.com/storecontent/spcred/664382spcred/664382normThe latest News from S&Pglobal8/11/2008 1:41:56 PM100News664382ItalyInternet Software & ServicesEurope, Middle East, AfricaGlobal IssuersCorporationsTelecommunications & CableNewsMADRID (Standard&Poor's) Aug. 11, 2008--Standard&Poor's Ratings Services said today that it has placed its 'B+' long-term corporate credit rating on Tiscali SpA, an alternative provider of Internet, telephony, and TV services in Italy and the U.K., on CreditWatch with negative implications. The CreditWatch listing also applies to Standard&Poor's 'B+' and 'BB-' long-term debt ratings on, respectively, the €50 million senior secured term loan and €50 million senior secured revolving credit facility (RCF) taken on by financing vehicle Tiscali U.K. Holdings Ltd. and guaranteed by Tiscali SpA. The recovery ratings on these obligations are unchanged, at respectively '3' (indicating our expectation of meaningful {50%-70%} recovery in the event of a payment default given the presenceITA45101010 451010 4510 45Tiscali SpA386369EUROMIDAFRTIS@IMNEWSGBRTiscali U.K. Holdings Ltd.436208EUROMIDAFRGLOBISSCORPTelecommunicationsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/664383spcred/664383normThe latest Research Update from S&Pglobal8/11/2008 1:41:56 PM175Research Update664383ItalyInternet Software & ServicesEurope, Middle East, AfricaGlobal IssuersCorporationsTelecommunications & CableResearch UpdateOn Aug. 11, 2008, Standard&Poor's Ratings Services placed its 'B+' long-term corporate credit rating on Tiscali SpA, an alternative provider of Internet, telephony, and TV services in Italy and the U.K., on CreditWatch with negative implications. The CreditWatch listing also applies to Standard&Poor's 'B+' and 'BB-' long-term debt ratings on, respectively, the €50 million senior secured term loan and €50 million senior secured revolving credit facility (RCF) taken on by financing vehicle Tiscali U.K. Holdings Ltd. and guaranteed by Tiscali SpA. The recovery ratings on these obligations are unchanged, at '3' and '2', respectively. The CreditWatch placement primarily reflects the significant shortfall in Tiscali's second-quarter 2008 earnings growth and cash flow generation compared with the company'sITA45101010 451010 4510 45Tiscali SpA386369EUROMIDAFRTIS@IMRESUPDGBRTiscali U.K. Holdings Ltd.436208EUROMIDAFRGLOBISSCORPTelecommunicationsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/ccbn/T1918732ccbn/T1918732norm...Tiscali management welcomes you to the first half #### results presentation. A Q&A session will be available after the presentation. I now hand it over to Mr. Mario Rosso, CEO of the Group. ... 8/8/2008 11:06:00 AMTiscali SPA54.0000FinalHalf Year 2008 Tiscali SPA Earnings Conference Call TranscriptTIS.MI11:00am CETTranscriptT1918732Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/ccbn/T1847770ccbn/T1847770norm...Welcome to the Tiscali first quarter #### results presentation. The conference will be hosted today by our CEO, Mr. Mario Rosso and our CFO, Massimo Cristofori. A Q&A section will be available after the presentation. ... 5/13/2008 3:06:00 PMTiscali SPA54.0000FinalQ1 2008 Tiscali SPA Earnings Conference Call TranscriptTIS.MI12:00pm CETTranscriptT1847770Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/ccbn/T1799340ccbn/T1799340norm...Welcome to the Tiscali financial year #### results presentation. The conference call will be hosted today by our CEO, Mario Rosso, and by our CFO, Massimo Cristofori, and by our IR Manager, Chiara Dorigotti. Please go ahead. ... 3/20/2008 3:07:00 PMTiscali SPA54.0000FinalFull Year 2007 Tiscali SPA Earnings Conference Call TranscriptTIS.MI11:00am CETTranscriptT1799340Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/spcred/630553spcred/630553normThe latest Full Report from S&P2/13/2008 10:30:51 AMFull Report400global630553ItalyInternet Software & ServicesEurope, Middle East, AfricaGlobal IssuersCorporationsTelecommunications & CableFull ReportFavorable strategic positioning in the high-growth broadband markets of the U.K. (15% market share) and Italy (6%) An attractive triple-play product portfolio and IP-ready core network infrastructure Expected strong growth in the direct customer base, supported by LLU Negative free operating cash flow generation High financial leverage, primarily from the acquisition of Pipex Fairly modest size and an ongoing investment phase that is weighing on margins and cash flow generation Fierce competition and integration risk of Pipex in the U.K., and small-scale and hefty capital-expenditure plans in Italy The rating on Tiscali SpA is constrained by the group's negative free operating cash flow (FOCF) generation (€126 million in the first nine months of 2007) and by high financial leverage owingITA45101010 451010 4510 45Tiscali SpA386369EUROMIDAFRTIS@IMFULLGLOBISSCORPTelecommunicationsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/630556spcred/630556normThe latest Summary from S&P2/13/2008 10:30:51 AMSummary175global630556ItalyInternet Software & ServicesEurope, Middle East, AfricaGlobal IssuersCorporationsTelecommunications & CableSummaryThe rating on Tiscali SpA is constrained by the group's negative free operating cash flow (FOCF) generation (€126 million in the first nine months of 2007) and by high financial leverage owing mainly to the September 2007 acquisition of the broadband and voice division of U.K.-based Internet services provider (ISP) Pipex Communications PLC for £187 million (€243 million). Additional constraints include Tiscali's fairly modest business scale, and continuing investments in its two markets, which are weighing on operating margins and FOCF generation. In the U.K., Tiscali must manage fierce competition from various players and technology platforms while successfully integrating and extracting the planned synergies from Pipex. In Italy, the group needs to increase its small business scale and broadband marketITA45101010 451010 4510 45Tiscali SpA386369EUROMIDAFRTIS@IMSUMMARYGLOBISSCORPTelecommunicationsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/629934spcred/629934normThe latest News from S&P2/8/2008 10:31:23 AMNews100global629934ItalyInternet Software & ServicesEurope, Middle East, AfricaGlobal IssuersCorporationsCapital GoodsTelecommunications & CableNewsMADRID (Standard&Poor's) Feb. 8, 2008--Standard&Poor's Ratings Services said today that it has raised its long-term corporate credit rating to 'B+' from 'B' on Tiscali SpA, an alternative provider of Internet, telephony, and TV services in Italy and the U.K. The one-notch upgrade also applies to our long-term debt ratings on the €50 million senior secured term loan and €50 million senior secured revolving credit facility (RCF) taken on by financing vehicle Tiscali U.K. Holdings Ltd. These debt obligations' recovery ratings of respectively '3' (meaningful {50%-70%} recovery in the event of a payment default, given the presence of the €400 million bridge facility) and '2' (substantial {70%-90%} recovery in the event of a payment default) remain unchangedITA45101010 451010 4510 45Tiscali SpA386369EUROMIDAFRTIS@IMNEWSGBRTiscali U.K. Holdings Ltd.436208EUROMIDAFRGLOBISSCORPCapitalTelecommunicationsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/629937spcred/629937normThe latest Research Update from S&P2/8/2008 10:31:23 AMResearch Update175global629937ItalyInternet Software & ServicesEurope, Middle East, AfricaGlobal IssuersCorporationsCapital GoodsTelecommunications & CableResearch UpdateOn Feb. 8, 2008, Standard&Poor's Ratings Services raised its long-term corporate credit rating to 'B+' from 'B' on Tiscali SpA, an alternative provider of Internet, telephony, and TV services in Italy and the U.K. The one-notch upgrade also applies to our long-term debt ratings on the €50 million senior secured term loan and €50 million senior secured revolving credit facility (RCF) taken on by financing vehicle Tiscali U.K. Holdings Ltd. The recovery ratings of respectively '3' and '2' on these debt obligations remain unchanged and are meaningfully influenced by the impact of the Italian insolvency regime on lenders' recovery prospects. At the same time, we removed all of the credit ratings from CreditWatch, where they had been placedITA45101010 451010 4510 45Tiscali SpA386369EUROMIDAFRTIS@IMRESUPDGBRTiscali U.K. Holdings Ltd.436208EUROMIDAFRGLOBISSCORPCapitalTelecommunicationsCredit & Investment ResearchS&P Credit Research