Ventelo, a leading provider of fixed and mobile voice and internet telecommunications solutions to business customers in the Netherlands and Belgium, announced that, along with two other companies, it had become part of a new UK plc named The Telecommunications Group (TTG). The new group is listed on the AIM (Alternative Investment Market) stock exchange in the United Kingdom as from this morning.
The Telecommunications Group plc consists of the following companies:
- Anglia Telecom: a UK-based telecommunications provider of mobile and fixed line services (www.angliatelecom.co.uk)
- PhoneDirect Group: a UK-based mobile wholesale and distribution company (www.phone-direct.co.uk)
- Ventelo Group: a Belgium and Netherlands-based provider for fixed and mobile voice, data and internet solutions (www.ventelo.nl and www.ventelo.be)
The bringing together of these three experienced and complementary cash generative companies produces a group with pro-forma turnover of GBP 157.7 million and operating profit before tax of GBP 3.6 million (31 March 2003).
Ventelo considers this to be a significant and positive development that offers continuity and further extension of the portfolio for all of its customers:
- The plc status gives us the profile and financial backing to grow;
- We gain expertise and contacts in the mobile area, which will enable us to provide the best mobile services at the best prices;
- Grouping together three companies in Belgium, the Netherlands and the UK enables us to offer international telecommunications solutions to customers who need it;
- Our buying power is increased so that we can work to offer better telephony and handset rates for our customers.
Graham Pollard, Chief Executive Officer of Ventelo and Group Sales and Commercial Director of TTG plc said: "This is an exciting time for Ventelo. The new enlarged company will benefit from a number of cross selling opportunities between the UK and the Benelux and our staff will benefit from greater career prospects and long-term stability as we grow the business. Both Anglia Telecom and Ventelo Group will benefit from the mobile handset bulk buying terms enjoyed by Phone Direct Group and it is also expected that the fixed line reseller activities of Anglia Telecom will benefit from our expertise in this area."
