BT Group PLC (LSE:BT.A) has agreed to sell its Irish wholesale telecoms business to a subsidiary of Cordiant Digital Infrastructure Ltd (LSE:CORD) for €22 million (£18.3 million).
The FTSE 100 group had valued BT Ireland at €300 million (£249 million) when it last attempted to sell off the assets in 2019 to investment firm Mayfair Equity Partners, before a change of heart.
Cordiant said BT will remain a customer of the combined business under three-year agreements, once the deal is completed, which is expected later this year.
BT managing director Shay Walsh said: "We have transformed our operations in Ireland over the past eighteen months to position our various business units for future growth.
"This new chapter will see BT focusing on multinationals and large organisations in Ireland with Speed Fibre as its wholesale network and national services partner.
"Through this transaction, I am confident that the complementary strengths of both entities will unlock new opportunities, drive innovation, and sustain long-term growth in the Irish telecommunications market"