“Today’s announcement is another key milestone in focusing our international business on what it does best—providing secure multicloud connectivity to large organizations globally and in Ireland,” said Bas Burger, chief executive of BT Business.
Speed Fibre Expands Irish Telecom Infrastructure
Speed Fibre, which owns Irish telecom companies Enet and Magnet+, views the acquisition as a major step toward becoming the country’s leading telecom infrastructure provider.
“This acquisition enables us to deliver even greater value to our customers by expanding our range of connectivity solutions,” said Peter McCarthy, CEO of Speed Fibre.
The transaction will be financed through Speed Fibre’s existing cash reserves and a revolving credit arrangement.
Legal and Financial Advisors
Simmons & Simmons LLP is advising BT on the sale, while Cordiant and Speed Fibre are receiving legal counsel from McCann FitzGerald LLP and Matheson LLP. Citigroup Inc. and PricewaterhouseCoopers International Ltd. are also advising BT, with PwC additionally supporting Cordiant and Speed Fibre.
Regulatory Approval and Timeline
The deal remains subject to regulatory approval, though the parties have not disclosed which authorities will oversee the process. The companies anticipate completing the transaction in late 2025.
