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Partner article As Türkiye prepares for its anticipated 5G spectrum auction, Türk Telekom is taking
The transaction, led by Cordiant’s Irish fibre platform Speed Fibre Group, was first announced back in February and includes BT Ireland’s domestic network infrastructure, a portfolio of more than 400 customers, and its local operational teams.
While the Competition and Consumer Protection Commission (CCPC) has now signed off on the deal, a few conditions remain before it can close. These include approval under Ireland’s foreign direct investment rules, and the completion of BT’s transfer of retained businesses that fall outside the transaction (including its multinational clients, large enterprise customers, and emergency call services).
The acquisition significantly bolsters Speed Fibre Group’s position in the Irish market. The company, which already owns Enet and Magnet+, is looking to cement its place in the wholesale and B2B telecoms space by expanding its service offering. As part of the deal, Speed Fibre and BT will enter a long-term connectivity partnership, ensuring continuity for customers and a future working relationship between the two companies.
The move marks a strategic shift for BT, which is increasingly focusing its international operations on serving large multinational clients.
Speaking at the time of the announcement, BT Business CEO Bas Burger described the sale as “another key milestone” in refining the company’s focus.
“Our Irish wholesale and enterprise business unit, which has been a leading alternative provider for more than 30 years, will enter a new era with Speed Fibre Group,” he said.
“We are confident that Speed Fibre Group will continue to deliver exceptional service to customers, and we look forward to working together with them as our future partner in Ireland,” he continued.
The deal also brings a long-running story closer to its conclusion. BT first tried to sell the Irish unit back in 2019, when it was reportedly valued at €300 million. London-based private equity firm Mayfair Equity Partners came close to sealing a deal a year later, but talks collapsed in 2020 after BT pulled out, citing a change of heart.
The transaction is expected to complete later this year.
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Author: Ernestro Casas -
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