Last updated: July 2, 2015
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Will concentrate on comms and data centre business lines
Colt Group is going to focus on core network, voice and data centre services businesses and will exit IT services. In a statement to financial markets, it says it does not believe the IT business can compete and grow successfully with “a level of risk that is acceptable”.
It will take it two to three years and exceptional cash costs of €45m-€55m and non-cash impairment charge of about €90m. Trading performance of group in Q2 is in line with management expectations and interim results will be reported before end of July, it says, while conducting a detailed review to identify optimal structure and positioning of data centre services business.