BT Group's (BT) Italian Unit Sells Majority Stake in NGI SpA
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BT Group plc (NYSE: BT) reports that BT Italia has sold its entire 96.18% stake in NGI SpA 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
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
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