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BT: sells Spanish managed telecommunications business

(CercleFinance.com) - BT said that it has reached an agreement for the sale of its managed telecommunications services in Spain, including its domestic network infrastructure, to Spanish private equity firm Portobello Capital.

The Spanish business provides networking services to around 600 major companies, including most of the IBEX-35 index companies. The unit generated about 270 million euros in revenue in its financial year 2018/19. Assets in the transaction include a 5,600 km owned and leased optical fibre network.

The move comes as BT is focusing on next generation networking, cloud and security services.

The British operator said it will retain a presence in Spain, with offices in Madrid and Barcelona, in particular to connect to its cyber security operations centre.

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