Cologne-based ICT firm QSC has received supervisory board approval to enter into negotiations on a potential sale of all shares in its ISP unit Plusnet. The firm revealed that following due diligence, several interested parties submitted binding offers, adding that the sale of all shares in Plusnet to one of the bidders is subject to the successful conclusion of negotiations on a purchase agreement.
As previously reported by CommsUpdate, on 31 August 2018 QSC completed the spin-off of Plusnet, noting that all products for resellers and corporate customers had been transferred from QSC’s ‘Telecommunications’ business unit to Plusnet, along with the relevant contractual relationships with customers, partners and suppliers. At the time, QSC revealed that it had also decided to enter into discussions with suitable investors regarding the sale of the newly spun-off unit.