datacenterknowledge.com: Europe Fiber Network Operators Shrug Off Pandemic to Seek Buyers

GTT Communications Inc. has kicked off a sale process of its infrastructure division, which could fetch as much as $2.5 billion, people with knowledge of the matter said. The McLean, Virginia-based company has sent out marketing materials to potential buyers of the assets, which include a high-speed network across Europe as well as data centers, according to the people.

The sale process is mostly attracting infrastructure-focused investment firms, the people said. Some of the assets were acquired by GTT through its $2.3 billion purchase of London-based Interoute in 2018.

Separately, London-focused internet service provider Community Fibre Ltd. asked for first-round bids this month, the people said. A sale could value the company at about 200 million pounds ($248 million), the people said, asking not to be identified because the information is private.

The company, based in Somerset, England, provides connectivity to student housing as well as business parks, industrial estates and serviced offices. Apart from the U.K., it also has operations in Ireland, Spain, Italy, Germany, Austria and the Netherlands, according to its website.

Glide, another European broadband network operator, is also working with an adviser as it seeks a buyer for the company, the people said. The sale could fetch around $200 million to $300 million, according to one of the people.

Comments

Business life in Europe wakes up

Business life in Europe wakes up The organisers of Sleep & Eat have announced the first details of this November’s show in Olympia London, designed to support hospitality businesses across the spectrum and lift the trammelled spirits of the hospitality community. New for this year, there will be an array of meeting and networking platforms designed to generate conversations and connections between all members of the hospitality community, which will include series of one-to-one meetings organised in advance through the show’s new portal. Initiatives such as these will be combined with a unique collection of experiential Sets, a Conference bringing industry leaders together, this year to debate the shape of hospitality after COVID-19, and an international Exhibition. The organisers have also revealed that, for the first time, the event will be delivered in collaboration with major international Hotel Brand Partners, Accor, IHG and Wyndham Hotels & Resorts. ...

Italy: Wine sales sour from virus

Italy: Wine sales sour from virus With Italy's restaurants and bars closed for another month and global trade snuffed out by the coronavirus, the world's top wine producing country is experiencing an existential crisis. Italy's 47.5 million hectoliters edged out France's 42.1 million for last year's global wine production title, although France's 9.8 billion euros ($10.7 billion) in exports beat out Italy's 6.4 billion euros. Making nearly a fifth of all the world's wine and selling more than half of it at home, Italy's two-month lockdown has hit the Mediterranean country's winegrowers especially hard. High end hurting Some of Italy's most prestigious wines are suffering from the worldwide lockdown. For decades, Barolo has focused on "maximum quality," earning a place on the wine lists of some of the world's best restaurants, said Paolo Boffa, president of the Terre del Barolo cooperative. See more: https...

Italy: Firms shake lockdown using shortcut in coronavirus law

Italy: Firms shake lockdown using shortcut in coronavirus law The government last week extended non-essential business closures to May 3. But more than 100,000 mainly small- and medium-sized companies have applied to keep going or partially reopen. In principle, a key hurdle for companies to do business should be that they can prove they are part of a supply chain to businesses that are deemed “essential” in a government decree, such as food, energy or pharmaceutical companies. But the government, facing a backlog of applications, has clarified Italy’s lockdown laws to say no companies need to wait for government approval to go ahead. More than 105,000 firms have applied to be considered part of essential supply chains, the interior minister said on Wednesday, in a guideline on its website to clarify the lockdown rules. Of those, just over 2,000 have been turned down and told to suspend their business. More than 38,000 are being investigated and the rest are waiting to be...

Business advice

Search This Blog