CVC Capital Backs £500m Jersey Bid for Manx Telecom

CVC Capital backs £500m Jersey bid for Manx Telecom

CVC DIF, the private equity giant's infrastructure arm, is backing the parent company of Jersey Telecom in a bid to acquire the Isle of Man's main telecoms provider, Sky News learns.

Manx Telecom takeover talks continue, with £500m figure floated by private investors

Acquisition reportedly under discussion with investment backing from CVC Capital

£500m Manx Telecom takeover bid moves a step closer

And industry sources believe a deal could be struck within a matter of weeks

CVC Capital Partners Target £500m Takeover of Manx Telecom on Isle of Man

Broadband, phone and mobile operator Manx Telecom (MT), which is the primary network operator serving premises across the remote Isle of Man, could be sold to CVC Capital Partners “within a matter of weeks” as part of a proposed £500m takeover offer that is currently said to be the focus of ongoing talks. According to a report on Sky News, CVC is being lined up to help finance the takeover by JT Group, which also owns Jersey Telecom that origina…

CVC Capital Backs £500m Jersey Bid For Manx Telecom - Great Yorkshire Radio

Sky News has learnt that CVC DIF is being lined up to help finance a takeover of Manx Telecom by JT Group, which owns Jersey Telecom. A deal could be agreed within a matter of weeks, according to telecoms industry sources. CVC DIF’s involvement in the prospective deal comes seven months after JT Group was reported to have held an earlier set of talks aimed at taking control of Manx Telecom. Money blog: ‘Uncomfortable reality check’ for home buye…