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GTT Communications to sell infrastructure unit for $2.15 bln

Credit: REUTERS/JOSE LUIS GONZALEZ

Telecoms company GTT Communications said on Friday it would sell its infrastructure unit to I Squared Capital in a $2.15 billion deal.

Adds share move, details of the deal

Oct 16 (Reuters) - Telecoms company GTT Communications GTT.N said on Friday it would sell its infrastructure unit to I Squared Capital in a $2.15billion deal.

GTT shares jumped nearly 36% in premarket trading.

The deal includes upfront cash payment of $2.02 billion, and deferred payments of up to $130 million, the company said.

(Reporting by Munsif Vengattil in Bengaluru; Editing by Saumyadeb Chakrabarty)

((munsif.vengattil@thomsonreuters.com;))

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