'Important moment' as telecom firm's sale approved

The sale of a telecommunications firm to a rival company has been approved.

JT Group said its acquisition of Isle of Man-based Manx Telecom had been completed in a move which created the largest telecoms provider for the UK Crown Dependencies.

JT, which is based in Jersey but also serves Guernsey, agreed to purchase Manx Telecom in October and completed the sale alongside infrastructure equity fund manager CVC DIF.

Daragh McDermott, JT Group's chief executive, said the aim of the sale was to help build "resilient, secure and future‑ready digital infrastructure" for the islands.

"Working alongside our strategic partner CVC DIF, we now have the scale, capability and investment strength to accelerate next‑generation network upgrades across Jersey, Guernsey and the Isle of Man," McDermott added.

Andy Green, chairman of the JT board, said the acquisition marked an "important moment" for the companies and their customers.

He said: "This partnership is about building long‑term resilience and ensuring that the Crown Dependencies continue to have access to world‑class digital infrastructure."

Manx Telecom chief executive Gary Lamb said the deal gave the firm the "certainty to move forward with confidence".

"Working alongside JT and CVC DIF strengthens our ability to innovate, invest and continue delivering the high-quality service our community depends on," Lamb added.

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