Is Colt up for sale?
23 April 2014 | Sophie Donoghue
Colt has stirred up speculation that it could be up for sale after it announced a profit warning for this year.
The operator said that its profits could slump due customer losses and lower prices, causing it to miss profitability estimates.
Earnings before interest, taxes, depreciation, and amortisation could fall up to 10% short of its consensus estimates of €325 million.
Colt is set to finalise a reshuffling of the business into four areas including network services, IT services, data centre services and voice services.
“I believe this structure will provide the focus we need to address challenges in the marketplace,” said Rakesh Bhasin, CEO at Colt.
The news follows Colt’s announcement to eliminate 85% of its carrier voice contracts after the company announced it was expecting a €175 million fall in revenues from the unit.
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