- Cordiant Digital Infrastructure has received approval to acquire BT’s Irish wholesale and enterprise business for $24M.
- The deal involves Speed Fibre Group taking control of BT Communications Ireland, pending final regulatory conditions.
What happened: Cordiant digital infrastructure gains approval for BT Ireland acquisition
Cordiant Digital Infrastructure has received approval from the Republic of Ireland’s Competition and Consumer Protection Commission for its $24M acquisition of BT Group’s Irish wholesale and enterprise business. The deal, announced in February, will be completed through Cordiant’s Speed Fibre Group subsidiary. This approval marks a significant step towards the finalisation of the acquisition, which is expected to close later this year once a few remaining regulatory conditions are met.
In addition to the competition clearance, Cordiant noted that the transaction is contingent on obtaining clearance under Ireland’s foreign direct investment laws. Furthermore, BT must transfer retained businesses from BT Communications Ireland (BTCIL) back to BT. After these conditions are fulfilled, Speed Fibre Group will assume control of BTCIL’s local network infrastructure, customer base, and support teams. BT and Speed Fibre Group have also arranged a long-term supply agreement.
Also read: BT sells Irish business to Speed Fibre Group
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Why it’s important
The sale is a part of BT’s broader strategy to reduce its global footprint and concentrate on its domestic UK operations. By offloading its Irish business, BT can focus on strengthening its core UK market while still maintaining a presence in Ireland through a supply agreement with Speed Fibre Group. This move reflects the operator’s ongoing efforts to streamline operations and optimise its geographical presence.
For Cordiant Digital Infrastructure, the acquisition provides an opportunity to expand into the Irish telecom market, gaining control over key local assets and customers. It also strengthens the company’s position in the competitive telecommunications landscape, signalling further consolidation within the industry. The deal underscores the growing trend of telecom companies refocusing their strategies and consolidating regional operations.
