Mergers and Acquistions News
Categories: Telecoms
September 1st 2009, 17:12PM
Irish voice, data and media communications firm Smart Telecom has entered into an examinership process which may see it merge with one of several undisclosed third parties interested in acquiring its customer base.
Smart Telecom made the decision to enter the examinership process following an extensive strategic review by the company's financial advisers which revealed significant expressions of interest in its assets.
The firm reports that it is burdened by a range of legacy liabilities which have prevented the company from concluding transactions and raising additional funds, particularly against the backdrop of the current recession.
Smart Telecom currently operates the only next-generation fibre-optic network in Ireland, making it the country's most advanced provider of broadband services.
It currently serves some 12,000 residential and 500 corporate, government and business customers.
In April, Smart Telecom celebrated the launch of a 24Mbps service at the same time as it announced that it would offer voice and broadband capabilities across Ireland.
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