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Teleste divests German Cableway service business to Circet Deutschland

2020-10-05 09:28:00| Telecompaper Headlines

(Telecompaper) Finnish network specialist Teleste said it will divest its Cableway services business in Germany to Circet Deutschland, a subsidiary of the Circet Group, for a preliminary net purchase price of EUR 8 million to be paid in cash at closing. The final purchase price depends on the net working capital and net debt at the closing date. The German Federal Cartel office will have to approve the transaction, which is expected to be completed in Q4.  Teleste revised its strategy earlier this year to focus on technology business operations and services of higher added value that support those operations.

Tags: service business deutschland german

Category:Telecommunications

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