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MT buyout to be finalised

Manx Telecom's sale to a transatlantic investment firm is expected to be finalised today.

Basalt Investment Partners announced the £255 million deal last month and a court gave its approval last week.

Chief Minister Howard Quayle gave a statement to the House of Keys about the deal on Tuesday, saying Basalt wanted to invest in a new 5G network as well as fibreoptic.

He added government will be asking the company about its plans once the sale is complete.

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