BT halts talks on sale of Irish business

6 Apr 2020

BT Group has reportedly called time on negotiations with Mayfair Equity Partners related to the proposed sale of BT Ireland. According to The Times, BT is understood to have withdrawn from discussions regarding the potential deal within the past month, while the British broadsheet also noted that the decision to halt talks was not said to be related to the ongoing COVID-19 pandemic.

BT’s plans to exit the Irish market via the sale of its BT Ireland unit were first reported in April 2019, while London-based Mayfair Equity Partners entered into exclusive talks to acquire the business in August that year. While November 2019 subsequently saw reports claiming that a final deal, believed to be valued at around EUR300 million (USD324 million), was imminent, sources close to the matter swiftly rejected such suggestions.

Ireland, BT Group (incl. Openreach), BT Ireland