Hibernia Express
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Exa Infrastructure, the company that last month took over GTT Communications’ infrastructure, has upgraded two-thirds of its network to 400Gbps. -
Martijn Blanken has crossed the world from Sydney to take charge of what’s now Exa Infrastructure. Under new ownership, it used to be Interoute, Hibernia Networks and other companies. He talks to Alan Burkitt-Gray
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Martijn Blanken, formerly of Telstra, has become the new CEO of what was the infrastructure division of GTT Communications.
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The New York Stock Exchange is delisting GTT Communications’ shares as, at the same time, doubts are cast on the company’s plan to sell its infrastructure division for more than US$2 billion.
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Shares in GTT Communications plunged 29% yesterday as rumours spread that the company is considering a pre-packaged bankruptcy filing to reduce its debt.
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The investment company that is buying the infrastructure division of GTT for US$2.15 billion will be expanding the business, which includes the infrastructure and data centre operations of the former Interoute, as will as Hibernia Networks and the former KPN International.
Forthcoming events
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The US private equity company that already owns Hong Kong’s HGC Global Communications has bought the infrastructure division of GTT for US$2.15 billion.
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In its first public statement for months, GTT has confirmed the names of the bidders for its infrastructure division – and adds that the sum involved is US$2.15 billion.
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A consortium of three bidders is in “advanced talks” to buy the former Interoute and possibly also Hibernia Networks for more than US$2 billion, according to reports last night.
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The banks handling the planned sale of GTT Communications’ so-called Apollo infrastructure unit – the former Interoute and Hibernia Networks – have received two bids, Capacity understands.
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Digital Colony and EQT’s Zayo has hired a former senior executive in Interoute and GTT to run its European business – just as GTT reaches the final stages of selling its infrastructure operations.
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The future of GTT Communications was thrown into uncertainty yesterday as the share price plunged, just days before the company is due to sell its infrastructure operations.
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GTT Communications is weeks away from selling its infrastructure division, including the units that were formerly known as Interoute and Hibernia Networks.
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GTT will become a capex-light, asset-light managed services company once the infrastructure division is sold, according to CEO Rick Calder.
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GTT Communications is about to start finding buyers for the former Interoute and Hibernia Express infrastructure it has acquired over the past few years, Capacity understands from well-placed sources.
