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)

Copyright (c) 2020 Dow Jones & Company, Inc.
Telecom Italia (BIT:TIT)
Graphique Historique de l'Action
De Oct 2021 à Nov 2021 Plus de graphiques de la Bourse Telecom Italia
Telecom Italia (BIT:TIT)
Graphique Historique de l'Action
De Nov 2020 à Nov 2021 Plus de graphiques de la Bourse Telecom Italia