In this news, we discuss the GTT Communications to sell infrastructure unit for $2.15 billion.
(Reuters) – Telecommunications firm GTT Communications GTT.N said on Friday it would sell its infrastructure unit to I Squared Capital in a $ 2.15 billion deal.
GTT shares jumped nearly 36% in pre-market trading.
The deal includes an initial cash payment of $ 2.02 billion and deferred payments of up to $ 130 million, the company said.
Report by Munsif Vengattil in Bengaluru; Edited by Saumyadeb Chakrabarty
Original © Thomson Reuters Corporation