BT to sell Spanish assets Brought to the Capital in the first turn

FILE PHOTO: the BT Tower is owned by British Telecom, has been shown in London, england, November 15, 2019 at the latest. (REUTERS photo/Simon Dawson/File Photo

LONDON (Reuters) – the uk’s BT has sold its Spanish fibre optic networks and data centers to a local private equity group, was Brought to the Capital in the first stage of the sale of its international transport networks.

Britain’s largest telecoms group, last year, indicated that it would commence the sale of a number of networks around the world, and to agree to access to promotions, so that it can continue to support the thousands of multi-national corporations, through its Global division.

BT said on Monday it struck a wholesale agreement with the Brought to gain access to the network, and the support of the almost 600 major customers in the country of Spain.

The assets in the transaction include, among other things, a fibre-optic network, the city’s fiber networks in Barcelona and Madrid, the three data centers. The sale will enable BT to focus on the provision of connectivity and digital solutions, said.

“Today’s announcement is an important milestone in the execution of our strategy to be the World to a more agile, flexible, and customer-oriented business,” said Bas Burger, the chief executive of BT Global.

The Spanish unit is generated at around 230 million pounds ($295 million) of revenue in the 2018/19 financial year.

BT was rocked by 2017, when it discovered an accounting scandal at the Italian’s arm swept an 8-billion-pound ($10 billion) of the fair market value at the time.

If you are asked for a re-evaluation of the company’s chief executive, Philip Smith, said earlier this year that he would be willing to make a number of divestments in infrastructure to create a more focused and higher profits.

Reporting by Kate Holton; editing by Alistair Smout and Jason Neely

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