Finally some action for Italian ISP Tiscali, which, after a prolonged process, has sold its international ISP business for €47 million (£42.41 million) and plans to complete the sale of its UK business by next month. The Caligari- and Milan-based group confirmed in a statement (pdf) yesterday it had sold Tiscali International Networks (TINet) to Italian companies BS Private Equity SpA and BS Investimenti SGR. TINet provides online connections in Europe, north America and Asia and in 2008 made revenue of €35 million (£31.5 million) and pre-tax profits of €10 million (£9 million). TINet will still offer ISP services to Tiscali Group as part of the deal.

SEE ALSO: Tiscali Switching Off Italian IPTV Ops As BSkyB Takeover Talks Falter

Tiscali has been trying to sell its UK ISP interests for months but talks with BSkyB faltered last month, reportedly over difference of opinion on price. Now CEO Mario Rosso tells Reuters that the company hopes a sale will be completed by the end of March. We are still waiting for Tiscali’s “strategic report” on the future of the UK business, which was promised in the “first weeks of 2009”. Perhaps that report will contain some clarity on the company’s IPTV plans: it was poised for a big roll-out of IPTV in the UK after its acquisition of Homechoice in 2006, but last year its Italian IPTV operations were shut down, casting those plans in doubt.