BT ITALIA SELLS ITS STAKE IN NGI SpA

RNS Number : 8986A

BT Group PLC

05 April 2012

 



 

April 5, 2012 

BT ITALIA SELLS ITS STAKE IN NGI SpA

BT Italia has announced today the sale of its entire 96.18% stake in NGI SpA ('NGI') to Cometa SpA, a company owned by the current Chief Executive Officer of NGI, Luca Spada, and Gruppo Elmec, a company which has operated in the IT sector in Italy since 1971.

NGI provides broadband connections and virtual hosting services in Italy, mainly to consumers.

The sale allows BT Italia to focus more on its core business, which is to offer services and communications solutions to corporate customers and the government sector.

The audited gross assets of NGI were € 21.4 million as at 31 March 2011.

- ENDS -

About BT

BT is one of the world's leading providers of communications services and solutions, serving customers in more than 170 countries.  Its principal activities include the provision of networked IT services globally; local, national and international telecommunications services to its customers for use at home, at work and on the move; broadband and internet products and services and converged fixed/mobile products and services.  BT consists principally of four lines of business: BT Global Services, BT Retail, BT Wholesale and Openreach.

BT is the official communications services partner of the London 2012 Olympic and Paralympic Games. BT is also a sustainability partner of the Games and a Premier Partner of the London 2012 Cultural Olympiad.

In the year ended 31 March 2011, BT Group's revenue was £20,076m with profit before taxation of £1,717m.

British Telecommunications plc (BT) is a wholly-owned subsidiary of BT Group plc and encompasses virtually all businesses and assets of the BT Group.  BT Group plc is listed on stock exchanges in London and New York. 

For more information, visit www.btplc.com

 

END

 

 

DISUGUUWCUPPUMA