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Home PRIVATE EQUITY

Cordiant in talks to snap up BT Ireland’s wholesale and infrastructure assets – report

dcdby dcd
February 4, 2025
Reading Time: 5 mins read
in PRIVATE EQUITY, UK&IRELAND
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Cordiant Digital Infrastructure is in talks to buy BT Ireland's wholesale and infrastructure assets.

The Sunday Times reports that a deal is set to be confirmed in the coming weeks.



BT

– Getty Images

Cordiant, has reportedly been in exclusive talks to buy BT's Irish telco unit for a number of weeks, the newspaper reported. Neither company commented on the reports.

Cordiant owns Speed Fibre Group, which includes Enet and the broadband provider Magnet Plus.

BT has been interested in a sale of its Irish unit for some time, with BT CEO Allison Kirkby reigniting plans to sell the unit last year, four years after her predecessor, Philip Jansen, scrapped a deal.

In October, the Irish Times reported that Macquarie-backed Viatel Technology Group was interested in buying BT Ireland.

Just before Christmas, Equinix agreed to acquire BT Group's Irish data center business for €59 million ($60.9m), a deal expected to be completed during the first half of this year.

For Cordiant, the acquisition would strengthen its fiber play in Ireland. The company previously acquired Speed Fibre from the Irish Infrastructure Fund (IIF) for €190.5 million ($196.7m) in 2023, as part of its "Buy, Build & Grow" business model.

An acquisition of BT's wholesale and infrastructure assets would combine BT’s 4,300km fiber network and Speed Fibre’s 5,400km of owned and leased fiber and its wireless infrastructure.

Founded in 1990, the company was originally called Esat Telecom, said to be an abbreviation of "Éireann Satellite." BT Ireland sold off its consumer unit to Vodafone in 2009.

BT previously agreed to a deal to sell the unit in 2019, before talks broke down a year later.

At the time, it was reported that a sale could generate between €300 million ($309m) and €400 million ($413m). It's not known how much the unit is currently worth, or how much BT would be looking to sell it for.

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Read the orginal article: https://www.datacenterdynamics.com/en/news/cordiant-in-talks-to-snap-up-bt-irelands-wholesale-and-infrastructure-assets-report/

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