The sale of BT Communications Ireland Ltd (BTCIL), announced back in February, covers the telecom giant’s domestic network infrastructure, over 400 customers and the teams supporting its wholesale and business enterprises.
The deal is still to receive approval under Ireland's foreign direct investment legislation and is expected to close later in 2025.
BT’s Irish sale does, however, include an agreement for the pair to source connectivity for their respective customers from each other.
BT’s Irish customer base, which includes multinationals and large Irish organisations, the Emergency Call Answering Service, and associated employees, are not included in the terms of the deal.
“This acquisition, when completed, will enable us to deliver even greater value to our customers by expanding our range of connectivity solutions,” Peter McCarthy, CEO of Speed Fibre Group, said earlier this year.
The BTCIL sale adds to BT’s growing attempts to streamline its business by divestment to focus on its core UK market.
Alongside BTCIL, the firm has sold its stake in the startup Distributed and is working on a deal with Equinix to sell its Irish data centre business.
There have also been reports that BT is looking to sell its international business, with the firm believed to have approached AT&T and Orange over a potential acquisition.
RELATED STORIES
BT offloads Irish wholesale and enterprise arm to Speed Fibre Group
BT approaches AT&T, Orange for potential international unit sale
