BT closed the sale of its Spanish managed telecom business
Last Monday, the British company BT announced on its Web that it has reached an agreement for the sale of their Spanish managed telecom services and technology business, including its domestic network infrastructure to funds managed by Portobello Capital.
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The sale.
After a first sale agreement with Portobello Capital, a ‘Middle Market’ risk capital fund manager, they should obtain the approval of the Spanish National Commission on Financial Markets and Competition (CNMC), which is expected for the first half of next year.
BT’s continuous transformation.
The sale is part of BT’s ongoing transformation of its Global unit, focused on delivering next generation networking, cloud and security services to multinational customers.
BT will retain a presence in Spain.
After closing the sale, the British company will retain a presence in Spain with offices in Madrid and Barcelona, apart from access points to connect to its global network and its cyber security operations centre.
Likewise, according to the sale agreement reached by both companies, BT will keep its access to the domestic infrastructure and will transform its Spanish business into a reseller of BT’s global products.
Transaction assets.
Assets sold in the transaction include:
- An own and rented 5,600-km fibre backbone.
- Urban fibre optic networks in Barcelona and Madrid, owned by BT.
- Three data centres.
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