Is BT selling its Irish corporate business?

Is BT selling its Irish corporate business?

Allison Kirkby.jpg

Sky News has reported that Alison Kirby, BT Group’s CEO, has reinitiated plans to sell its Irish corporate business.

According the report Kirby has kicked off a process that was started and then slashed by her predecessor Philip Jansen four years ago.

BT Group have reportedly enlisted the services of Citi Group on a potential disposal of the unit, although discussions are at an early stage and may not result in a transaction.

BT Ireland has wholesale and business customers, but does not sell to consumers. It is the main alternative fixed line provider in Ireland.

Mayfair equity partners agreed a preliminary transaction with BT while Jansen was at the helm, but talks broke down in the spring of 2020.

Reports from 2019 valued the business between €300m and €400m.

If plans are underway it marks one of the first transactions that Kirby will be overseeing. UK-based Voadafone recently completed a strategic review of overseas assets that resulted in the planned sales of its Italian and Spanish businesses and a merger with Three in the UK.

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