BT will sell selected operations and assets in 16 countries in Latin America to CIH Telecommunications Americas. Financial terms were not disclosed.
Assets and operations in the scope of the transaction delivered revenue of £110m to BT in fiscal year 2018/19. They include two owned fibre networks with total length of 650km, 2000km of leased fibre lines, four data centres and five teleports. The divested business is headquartered in São Paulo, Brazil.
“Today’s announcement is a key milestone in the execution of our strategy to become a more agile and focused business. It comes at a particularly challenging time for the global economy. As such, it is a sign of our determination to keep the business moving forward and continue connecting communities, businesses and governments. I am pleased to begin a new chapter in the region with CIH, providing continuity for our people and our customers,” said Bas Burger, CEO of Global, BT.
“We are very excited to be re-entering global telecommunications after having successfully focused on the technology sector over a number of years. We have considerable experience in the region and the sector, and greatly look forward to growing the business and providing the highest level of service to all customers in the region, including BT. The acquired business fits very well with our strategy and existing global portfolio,” said George Kappaz, CIH’s Chairman.
