BT Group to sell off its French operations for €118 million

BT Group has also sold off a number of assets in Latin America this week
BT Group, UK, France, Divestments


UK based telco, BT Group, has entered into discussions with Computacentre to sell off its operations in France.
The transaction is subject to an ongoing consultation with the works councils over a two month period. If approved, the deal would raise €118 million (£104 million) for BT Group.
BT Group CEO Philip Jansen has repeatedly stated that he intends to slim down BT’s overseas portfolio in order to refocus on its home market in the UK.
“With this agreement we are close to reaching another milestone in the execution of our strategy to make BT Global a more agile business focused on the growing needs of our multinational customers. I believe this agreement will prove to be a key step forward for our customers, for our people and for BT. It also offers a positive future for our domestic customers and the people who support them,” said Bas Burger, CEO of Global, BT.
The deal will be subject to standard European regulatory approval, with negotiations set to be slightly protracted, due to the current Coronavirus pandemic.
Earlier this week, BT Group also announced that it would be divesting its operations in Latin America, in a deal that would reportedly bring in close to £100 million. The deal saw BT Group sell off selected interests in 16 Latin American markets to CHI Telecommunications Europe.

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