BT Share News (BT.A)

(Sharecast News) - BT said on Thursday that it has signed a preliminary agreement with Italian telecommunications company TIM regarding the sale of two business units serving public administration and SMEs in Italy for an undisclosed sum.
The deal will enable TIM to expand its supply of communications and connectivity services, accelerating digitalisation of the public affairs at central, regional and local levels in the country, BT said.

"With the planned integration of the SME business unit, TIM would further diversify the offer of secure and efficient ICT (information and communications technology) and cloud solutions for small and medium businesses," it added.

The agreement also includes customer support for the SME business unit, delivered by BT's contact centre in Palermo.

BT said the transaction is part of the ongoing transformation of its global unit "as it sharpens its focus on delivering next-generation networking, cloud and security services to multinational organisations".

"BT will retain a strong presence in Italy serving large enterprises and multinational companies, including access points to its global network and data centres," it said.

The two business units being sold generated revenues of around €90m in the fiscal year ended in March 2020.

The sale is expected to complete by the end of the first quarter of next year.