BT has agreed the sale of its Spanish managed ICT services business, including domestic network infrastructure, to funds managed by Portobello Capital, subject to regulatory approval. The deal is expected to complete in H1 2020.
The sale is part of the continuing transformation of the BT Global Services division, which delivers networking, cloud and security services to multi-national customers.
BT will retain a presence in Spain with offices and Barcelona and Madrid, a cyber security operations centre, and access points to connect to its global network. A wholesale agreement will give BT continued access to the Spanish network infrastructure, with the Spanish business also becoming a reseller for BT's global products.
The Spanish business being sold provides networking services to 600 major enterprise customers, and generated revenue of around GBP 230 million (EUR 270 million) in 2018/2019. Assets included in the deal include an owned and leased 5,600 km optical fibre network, fully-owned city fibre networks in Madrid and Barcelona, as well as three data centres.
