One.Tel and Telco Global to merge

24 Sep 2004

Centrica, the parent of UK alternative telecoms provider One.Tel, has acquired rival company Telco Holdings, which operates as Telco Global, for GBP43 million in cash, plus the group’s GBP1.2 million debt. The deal will see Telco’s 238,000 residential fixed line customers – of which 80% are pre-selection users – and 21,000 corporate customers (including 10,000 mobile accounts) incorporated into One.Tel’s existing 1.1 million subscriber base. Centrica believes the purchase will significantly strengthen One.Tel’s presence in the B2B market, as well as increasing its purchasing power.

United Kingdom