GE Cap takes stake in ITG

GE Capital Equity Capital Group Europe has taken a five per cent stake in ITG, the UK’s largest independent Internet Service Provider, generating some £1.77 million. ITG issued new shares at 85 pence per share in cash, and they will be traded on the Alternative Investment Market (AIM). ITG’s chief executive, Laurence Blackall commented on the new investment, saying, “the new funding will enable us to further realise our development plans and ambitions to become a truly European operator” More specifically, ITG said that the proceeds will be used to develop its’ network and ramp up activities in the European business connectivity and communications marketplace. Equity Capital Group Europe, part of GE Capital, a wholly-owned subsidiary of General Electric Company, invests around $1 billion a year. ® Click here for more stories