StockMarketWire.com - Alternative broadband services provider Bigblu Broadband said it had sold its UK and European satellite broadband operations to Eutelsat S.A. for £39.3 million.

Additional consideration of up to approximately £1.5 million could be paid up to and including 30 September 2021.

The final considering was subject to the final completion accounts including the actual working capital at completion against an agreed target level and adjustments for cash or debt items. It was expected that such adjustments will be agreed by December 2020, the company said.

The sale, which was completed on 30 September 2020, provided 'a significant return on investment and strengthens our balance sheet at the same time as validating the value proposition of our buy and build strategy,' the company said.






At 9:10am: [LON:BBB] BigBlu Broadband PLC share price was 0p at 87.5p



Story provided by StockMarketWire.com