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Manx Telecom
Oakley advises Manx Telecom plc on its recommended cash acquisition by Basalt Infrastructure Partners
Sector:
Telecoms
Transaction Type:
Disposal
Date:
May 2019
Deal Value:
£319m

Oakley Advisory Limited (“Oakley”), the independent corporate finance firm offering specialist advice across the TMT sector, is pleased to have advised Manx Telecom plc (“Manx”) on its recommended cash acquisition by Basalt Infrastructure Partners (“Basalt”). Oakley acted as Rule 3 and lead financial advisor to Manx on the transaction.

Manx is the leading Isle of Man-based communications solutions provider, providing a wide range of fixed line, broadband, mobile and data centre services to retail, business and public sector customers on the island, as well as a growing portfolio of innovative hosting and “Smart SIM” solutions to global customers.

Manx is the only operator of a Fixed Line network in the Isle of Man and is currently investing in state of the art 1 Gbps Fibre-to-the-Premise (“FTTP”) broadband for both its consumer and business customer base. Manx is strengthening its core market position whilst exploring new market opportunities on and off-island, leveraging its telecommunications expertise and mobile technology platform.

Basalt anticipates supporting Manx through its next phase of capital investment, which includes funding FTTP, Manx’s commitment to Vannin Ventures and the future requirement of a 5G network roll out.

The Oakley team was led by Chris Godsmark and Marc Jones and included Phoebe Orr, Max Gilbert and Sarthak Sawlani.

Manx CEO Gary Lamb said:

“The Oakley team have been a pleasure to work with, not only on this transaction but since our IPO. They have supported us throughout the journey as a public listed company, providing knowledgeable advice and being committed throughout. I would like to thank the Oakley team for all their efforts.”

Chris Godsmark, joint Managing Partner at Oakley, commented:

“Manx has been a long-term client for Oakley and we have been delighted to have worked with Board and the management team since the IPO on AIM in January 2014. This acquisition provides a successful result for shareholders and allows the business to focus on long term strategic investments. The transaction again demonstrates our capability and expertise involving listed companies and also in telecoms infrastructure. We acted as lead financial advisor providing Rule 3 advice on the financial terms of the offer, and guidance on the application of the Takeover Code.”

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