BT Group to Sell Two Business Units in Italy to Telecom Italia
10 Dicembre 2020 - 11:29AM
Dow Jones News
By Adria Calatayud
BT Group PLC has agreed to sell two business units in Italy to
peer Telecom Italia SpA for an undisclosed sum, the two companies
said Thursday.
The U.K. telecommunications group said the sale is part of the
transformation of its global services unit, and that it will retain
a strong presence in Italy serving large enterprises and
multinational companies.
The two units included in the planned transaction serve public
administration and small-and-medium enterprises and generated
revenue of around 90 million euros ($108.8 million) for the year
ended March 31, BT said.
TIM said the deal will allow it to expand its supply of
communication and connectivity services, and to further diversify
its service offering for small and medium businesses.
The deal is subject to consultations with trade unions and
regulatory clearance and is expected to be completed by the end of
the first quarter of 2021, the companies said.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
December 10, 2020 05:14 ET (10:14 GMT)
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