Telecoms giant BT Group is establishing a standalone subsidiary in the Republic to manage its global procurement needs which will have a £13 billion (€14.5 billion) annual budget. “It will perform a critical role in setting procurement strategy, planning and making recommendations as to how money is spent,” said Mr Pourrat. It already has a big presence here though BT Ireland, which operates on an all-Ireland basis. BT Ireland reported revenues of €419.6 million for the year ending March 2019 with operating profits of €45.8 million. BT Ireland, which is the State’s second-largest fixed-line network, was rumoured to be up for sale late last year with Mayfair Equity Partners thought to be interested in buying the business for about €300 million.

Source: The Irish Times November 13, 2020 04:30 UTC