Feeds

BT grabs £170m Redstone gig

Wholesale

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

BT Wholesale has won its first major deal to run a rival telco network. The deal is to run the voice network of cash-strapped Redstone Telecom, it's worth £ 170m, and it runs over six years. Twenty Redstone staff will transfer to BT under TUPE regulations.

It's unclear how much of this contract is new money - BT Wholesale says the deal protects and extends existing interconnect revenues with Redstone. Also, is BT Wholesale buying any equipment or facilities from Redstone?

Redstone Telecom will concentrate on developing its voice and data portfolio. The company has lost buckets of money over the last year or so, and was forced to implement a survival plan, the most notable element of which was a £22m rights issue. Redstone today said that net debt stood at £600K, compared with £6m in September, 2001.

Redstone ensures its continued survival with this contract - working capital and infrastructure investment needs are diminished. This means that it will not have to test the patience of its shareholders again with another rights issue. ®

Internet Security Threat Report 2014

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Protecting against web application threats using SSL
SSL encryption can protect server‐to‐server communications, client devices, cloud resources, and other endpoints in order to help prevent the risk of data loss and losing customer trust.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.