19 Jan 2016 10:18
19 January 2016
KCOM Group (KCOM.L. the 'Group')
Confirmation of sale of UK network infrastructure to CityFibre for
a total cash consideration of £90 million
Following approval of the transaction by CityFibre's shareholders last week, KCOM Group today confirms completion of the sale of its national network infrastructure (outside of Hull and East Yorkshire) to CityFibre for an all cash consideration of £90.0 million.
Proceeds will be used by KCOM Group to reduce net debt, which would have resulted in a pro-forma net debt of £13.0 million as at 30 September 2015
ENDS
For further information please contact:
Bill Halbert, Chief Executive Officer / Paul Simpson, Chief Financial Officer
KCOM Group PLC
01482 602595
Cathy Phillips, Investor Relations
KCOM Group PLC
07778 335735
Matt Ridsdale/Lulu Bridges/Mike Bartlett
Tavistock Communications
020 7920 3150