CVC Capital is looking to support a £500 million ($671m) takeover of Isle of Man telco Manx Telecom.
As reported by Sky News yesterday, CVC’s infrastructure arm, CVC DIF, is being lined up to finance the acquisition of Manx Telecom by JT Group, which owns Jersey Telecom (JT).
JT serves customers in Jersey, located in the Channel Islands. The Isle of Man and Jersey are self-governing British Crown dependencies.
Sky reports that a deal could be reached within weeks. Manx Telecom and JT have not commented on the reports.
Details around a potential deal are light, though Sky notes that JT Group held talks aimed at taking control of Manx Telecom several months ago.
Founded by BT in 1985, Manx Telecom is the primary provider of broadband and telecommunications on the Isle of Man. After being acquired by Telefónica in 2006, HgCapital in 2010, and floating in 2014, Manx Telecom has been owned by Basalt Infrastructure Partners since 2019.
The company launched its own dedicated data center division last year. Manx is currently building out its fiber network £60m ($80m) roll-out.
JT was founded in 1888 and is owned by the island’s government. The telco paired with network vendor Ericsson to launch 5G last month.
Read the orginal article: https://www.datacenterdynamics.com/en/news/cvc-capital-pursues-500m-bid-to-acquire-manx-telecom-report/
