Tiscali, which is in major financial trouble, has released a statement saying that it is again holding talks to discuss the sale of its UK division. Earlier, the company had set a price of £600 million for the UK arm. However, the ISP has had to reconsider its stand after The Carphone Warehouse and other leading potential buyers turned down the offer saying that the price being demanded was too high.

Tiscali is looking to recover from its huge debts amounting to £453m as soon as possible. After the refusal of buyers to accept the earlier terms of the deal, the price has now come down to about £250m. Potential buyers are now being wooed, with The Carphone Warehouse leading the race one again.

The new terms of the deal mean that even if Tiscali manages to go ahead with the sale, the price would still be less than half of what it had initially hoped to get, and the company would not be able to get rid of its entire debt. However, with its survival at stake, it seems the company is now ready to accept a much lower price.

The Carphone Warehouse had recently announced its decision to separate from broadband service TalkTalk and with Tiscali back on the negotiating table, industry experts believe this time the deal might just go through. To keep up-to-date on the latest news, click for more info on broadband.