BT sells fiber networks and data centers in Spain

BT has sold its fiber networks and data centers in Spain to private equity group Portobello Capital.
BT broadband for homesTelecom operator indicated last year that it would start selling off some networks around the world and agree access deals so it can continue to support multi-national businesses through its Global division.

BT said on Monday it signed a wholesale agreement with Portobello to maintain access to the network and support its 600 major clients in Spain.

Assets in the transaction include an optical fiber network, city fiber networks in Barcelona and Madrid and three data centers. The sale will enable BT to focus on the provision of connectivity and digital solutions.

“Today’s announcement is another key milestone in the execution of our strategy to make Global a more agile and customer-focused business,” said Bas Burger, chief executive of BT Global.

The Spanish unit generated around 230 million pounds or $295 million of revenue in the 2018-19 financial year.

BT Group in July said it will sell its global headquarters to a fund managed by European private equity company Orion Capital Managers for 209.6 million pounds or $260.2 million.

The sale of the 300,000-square-foot office, based in central London, includes a 30-month leaseback agreement during which the company will move its headquarters to a new location in the capital.