Manx Telecom Sold For over £158 Million

Friday, 4 June 2010 12:34

Manx Telecom has been sold off for over £158 million pounds.

Telefonica have agreed to sell what they say is the Isle of Man's most important telecommunication and internet provider.

Telefónica confirmed that the decision to sell Manx Telecom came about as a result of its decision to rationalise its business and concentrate its activities in large markets, such as Brazil, Spain, and Germany.

The multi million pound sale is to private equity firm HgCapital and telecoms firm CPS Partners

The Manx Telecom name will stay, no jobs are expected to be lost.

More from Isle of Man News

Garage staff get body cams to tackle abuse and theft

An Island filling station company says it'll try out bodyworn cameras to help deter shoplifting and verbal abuse against its staff.
Manxman expected in Heysham around midday, says Steam Packet

The Steam Packet Company says the Manxman should arrive in Heysham shortly after midday following an incident earlier.
Carbon literacy training is for legal requirements, says DEFA

The Department of Environment, Food and Agriculture says carbon literacy training for its staff means they can meet legal requirements.
Manxman returns to port following medical emergency

The Manxman's had to return to Douglas because of a medical emergency on board.
Video shows late Manx sculptor inspecting final work

A UK engineering firm has released a video of a famous Manx sculptor inspecting one of his final works, which was unveiled in St Johns earlier this year.
Only one claim for falls in town square

The Department of Infrastructure says it's only had one claim against it following a fall in Castletown Square.
Thoughts with Jewish community after Bondi attack, says Chief Minister

The Chief Minister says an event marking Hanukkah has taken on extra significance after the Bondi Beach terror attack in Australia.
Final House of Keys sitting of 2025 this morning

The House of Keys sits for the last time this year later.