BT agrees sale of two business units in ItalySource: RNS
10 December 2020
BT AND TIM SIGN PRELIMINARY AGREEMENT FOR THE SALE OF TWO SELECTED BT BUSINESS UNITS IN ITALY
The planned transaction will enable TIM to expand the range of services for the digital transformation of public administration and SMEs − BT will retain a strong presence in Italy serving large enterprises and multinational companies
BT and TIM today announced they have signed a preliminary agreement on the acquisition of selected BT business units in Italy serving public administration and Small & Medium Enterprises (SME) by TIM.
The public administration business unit provides communications services to a number of ministries and agencies of the national government, as well as regional and local governments. The SME business unit offers connectivity and cloud services throughout Italy.
The planned transaction will enable TIM to expand its supply of communications and connectivity services, accelerating digitalisation of the public affairs at central, regional and local levels in the country. With the planned integration of the SME business unit, TIM would further diversify the offer of secure and efficient ICT and cloud solutions for small and medium businesses.
The agreement also includes customer support for the SME business unit, delivered by BT's contact centre in Palermo.
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 two business units included in the planned transaction generated revenues of approximately €90 million during the fiscal year ended in March 2020.
The planned transaction is subject to consultations with trade unions and regulatory clearance.
It is expected to complete by the end of the first quarter of 2021.
TIM is one of the top Information & Communication Technology companies in Europe and the market leader in Italy. It offers its customers fixed and mobile telecommunications, internet, premium digital entertainment content - through TIMVISION, TIMMUSIC and TIMGAMES - and advanced cloud-based platforms. All with flexible and customisable offers to meet the needs of families and businesses, on platforms accessible from a range of devices.
TIM is included in the major international sustainability indexes and is committed to becoming the leading telco in the Eurozone in terms of sustainability and social responsibility.
The Group includes TIM Brasil, one of the leading players on the Brazilian market; Sparkle, an international service provider and one of the top ten global operators worldwide, with a 540,000 km fiber network extending across Europe, the Americas, Africa and Asia; Olivetti, which operates in key sectors such as the Internet of Things and offering cutting-edge.
BT Group is the UK's leading telecommunications and network provider and a leading provider of global communications services and solutions, serving customers in 180 countries. Its principal activities in the UK include the provision of fixed voice, mobile, broadband and TV (including Sport) and a range of products and services over converged fixed and mobile networks to consumer, business and public sector customers. For its global customers, BT provides managed services, security and network and IT infrastructure services to support their operations all over the world. BT consists of four customer-facing units: Consumer, Enterprise, Global and its wholly-owned subsidiary, Openreach, which provides access network services to over 650 communications provider customers who sell phone, broadband and Ethernet services to homes and businesses across the UK.
For the year ended 31 March 2020, BT Group's reported revenue was £22,905m with reported profit before taxation of £2,353m.
British Telecommunications plc is a wholly-owned subsidiary of BT Group plc and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on the London Stock Exchange.
For more information, visit www.bt.com/about