The brand new boss of BT Group is dusting off plans for a sale of its Irish company enterprise 4 years after her predecessor referred to as off tlls a deal.
Sky Information has learnt that the FTSE-100 telecoms big is working with bankers at Citi on a possible disposal of the unit.
The evaluate of its choices is at an early stage and will not end in a transaction, sources mentioned on Wednesday.
However, it represents one of many first company actions being evaluated by Allison Kirkby, BT’s new chief govt.
BT Eire is the primary various fixed-line communications supplier within the nation with greater than 650 workers.
The division serves enterprise and wholesale clients, however doesn’t promote to shoppers.
It owns and operates a full-service, mounted telecom community and boasts a high-capacity fibre community with nationwide attain throughout Eire.
In 2019, BT reached a preliminary settlement to promote the enterprise to Mayfair Fairness Companions, a number one London-based investor.
The talks fell aside within the spring of 2020.
On the time, the unit was valued at between €300m and €400m.
It was unclear how a lot BT Eire may fetch in a sale immediately.
In an announcement following an enquiry from Sky Information, a BT Group spokesperson mentioned: “We frequently evaluate our operations to make sure they align with our world technique.
“Now we have a superb enterprise in Eire and no selections have been taken.”
Shares in BT have fallen by greater than a 3rd during the last 12 months, leaving it with a market worth of £10.2bn.
