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(Alliance News) - BT Group PLC on Thursday said it has agreed to sell two of its business units in Italy to Telecom Italia Spa as part of BT's Global unit transformation.
London-based FTSE 100 telecommunications firm BT is selling its public administration business unit, which provides communication services for national government ministries and agencies in Italy as well as regional and local governments.
BT is also selling its small and medium enterprises unit, which offers cloud services and connectivity throughout Italy. The agreement includes customer support for this unit, delivered via BT's Palermo contact centre.
In the financial year ended March 2020, the two business units generated combined revenues of approximately EUR90 million. Financial terms of the deal have not been disclosed.
BT explained: "The planned transaction is part of BT's 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."
The sale, which is subject to regulatory clearance and trade union consultations, is set to complete by the end of the first quarter of 2021.
A shares in BT were down 1.8% at 135.85 pence in London on Thursday morning.
By Anna Farley; annafarley@alliancenews.com
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