Monday, December 12, 2005

BT Awarded EUR450 Million Contract by Fiat

The Fiat Group awarded a global telecommunications service contract worth €450 million over five years to BT. The deal covers telecom services to Fiat divisions in over 40 countries.

BT will also acquire Atlanet, a Fiat subsidiary providing domestic telecommunications services to Fiat and other non-Fiat business customers across Italy. The Turin-headquartered company controls a national network with 24 PoPs (Points of Presence) for voice services and 42 PoPs for data services, interconnected by a fibre optic backbone and equipped to offer 11,000 IP access points across the country. Atlanet also owns MANs (Metropolitan Area Networks) in Rome, Milan and Turin. The company currently employs approximately 280 people and at 2004 year end had gross assets of €133 million. BT will pay cash consideration of approximately €80 million.