Tiscali 2001 Annual Report Download - page 44

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36
Principal subsidiaries and shareholdings
World Online International NV
This Company was bought in November 2000 via a Public Exchange Offer by Tiscali for all
World Online shares, and was completed at the end of January 2001. At that date Tiscali
held 287,333,645 World Online shares.
The World Online Group began life in 1996 as a Netherlands-based Internet Services
Provider. It was a European Internet market leader, offering a complete range of network
services designed for both professionals and the wider public.
The takeover of World Online gave Tiscali a pan-European position and made it one of the
major players in the Internet sector. World Online's activities cover a wide-ranging,
comprehensive platform of services including Internet access, portals, e-commerce and
streaming. The Company was listed on the Amsterdam Stock Exchange (Euronext) on April
17, 2000, but was subsequently delisted on January 12, 2001 following the successful
outcome of Tiscali's Public Exchange Offer. All the World Online Group's activities were
integrated into the Tiscali Group.
During 2001, World Online's consolidated revenues totalled EUR 249.2mn. EBITDA for the
same period was EUR -123.9mn.
Liberty Surf Group SA
Liberty Surf Group SA is one of France's leading media and Internet Companies. The
Company was taken over in March 2001 under an agreement with its two main
shareholders, which together held 72% of the share capital. Following a Public Purchase
and Exchange offer, completed in April 2001, Tiscali's shareholding increased to 94.5%.
Thanks to the takeover of Liberty Surf, Tiscali now stands in second place on the French
ISP market. The integration between Tiscali and Liberty Surf has been very beneficial in
terms of expanding market share in the European countries of operation, and has led to
significant cost savings, thus laying the foundations for generating a profit more rapidly
and freeing up more resources for investment.
Liberty Surf Group SA, whose consolidation into the Tiscali Group became effective on
April 1, 2001, posted revenues of EUR 98.1mn last year. EBITDA in the same period was
EUR -43.8mn.
Main acquisitions by the Tiscali Group in 2001
AddCom AG
In December 2000 Tiscali took over 100% of Addcom AG, an Internet Service Provider and
former subsidiary of Web Media GmbH, the Internet arm of the Ebner Media Group. The
transaction was completed in March 2001, through the issue of 1,532,887 new Tiscali
shares. AddComm has developed a complete range of portal services, including bigbag.de
which offers a huge selection of CDs, video cassettes and video games; gamesmania.de, a
webzone dedicated to games and the games community; and movieline.de — Germany's
most complete and accessible database of film facts. As part of the deal, Tiscali also
signed an important commercial deal with the Ebner Group, enabling the distribution of
Tiscali products and services in Germany.