Viatel plans to go on acquisition trail with huge new windfall

The telco has €125 million to spend, writes Siobhán Brett.

24th August, 2014
Colm Piercy, Viatel chief executive. Picture: Bryan Meade

Viatel, the Irish-owned telecoms firm, intends to spend 80 per cent of the €125 million it received last week from an international finance house on acquisitions.

The company, formerly known in Ireland as Digiweb, said the full sum would be ''committed and in place in 12 months, with a number of potential acquisitions already in train.

''We are planning to move fast, said Colm Piercy, chief executive and majority shareholder of Viatel. ''M&A in telecoms is hotting...

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