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Centrica buys Telco Global for £43m

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Centrica, the giant outfit behind the One.Tel and British Gas Communications telecoms brands,has forked out £43m to acquire Telco Holdings Ltd.

Operating under the Telco Global brand, Enfield-based Telco Holdings has 238,000 residential fixed lines customers, 11,000 business customer and around 10,000 mobile business users. These will all be added to Centrica's exsiting customer base of 1.5m.

The acquisition also provides it with an opening into the business market. There's also the chance to explore VoIP services as well.

Said Sir Roy Gardner, chief exec of Centrica: "Today's acquisition will enable us to consolidate our position as the UK's largest indirect access telecommunications company, reinforcing One.Tel as the major alternative for BT customers, and supporting our efforts in the B2B market." ®

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