Telefonica sells Manx Telecom for USD158.8 million

7 Jun 2010

Telefonica has confirmed the sale of Manx Telecom to HgCapital – a private equity firm – and CPS Partners – a telecommunications management company with a history of acquiring operators in small countries – in a deal worth USD158.8 million. Manx Telecom is the largest provider of fixed and mobile services in the Isle of Man, and was bought by Telefonica in 2006 as part of the Spanish giant’s acquisition of O2. Telefonica said the sale will allow it to concentrate more on its largest markets.

United Kingdom, Manx Telecom, O2 UK, Telefonica