Cordiant Digital Infrastructure Provides Update on Speed Fibre Acquisition of BTCIL
Why we think this is neutral
This RNS announcement provides an update on the acquisition of BTCIL by Cordiant Digital Infrastructure's subsidiary Speed Fibre Group. While the acquisition is progressing, the announcement does not contain any financial figures, trading updates, or other mandatory news types that would warrant a stronger sentiment score.
Key Points
- Acquisition of BTCIL by Speed Fibre Group, a subsidiary of Cordiant Digital Infrastructure, cleared by Irish competition regulator
- Remaining conditions relate to foreign direct investment approval and transfer of retained businesses from BTCIL to BT
- Transaction expected to close later in 2025
Summary
Cordiant Digital Infrastructure Limited (the "Company"), the operationally focused investor specialising in digital infrastructure, has announced that the acquisition by its wholly owned Irish fibre platform, Speed Fibre Group, of BT Communications Ireland Ltd ("BTCIL") has been cleared by the Competition and Consumer Protection Commission in Ireland. The remaining conditions to closing relate to approval under Ireland's foreign direct investment legislation as well as the completion of the transfer to BT of the retained businesses from BTCIL which are outside of the Transaction perimeter. Pending the aforementioned conditions, the Transaction is expected to close later in 2025.