Home / Business and Economy / British Telecom Firm SCG Explores $1.07 Billion Sale
British Telecom Firm SCG Explores $1.07 Billion Sale
11 Nov
Summary
- British telecom and cloud services provider SCG exploring sale
- Valuation of up to 800 million pounds ($1.07 billion)
- Working with investment bank Houlihan Lokey to solicit interest
According to a report by Bloomberg News, British telecom and cloud services provider SCG is exploring a sale at a valuation of as much as 800 million pounds ($1.07 billion). The Basingstoke, UK-based company is working with investment bank Houlihan Lokey to solicit interest from potential buyers, and information about the sale could be sent to potential bidders later this week.
The deliberations for the sale are still in the early stages, and the company's owners could decide not to pursue a sale. Founded in 1965, SCG provides small- and medium-sized businesses across the UK with fixed-line, data, mobile, and cloud-based unified communication services.
While Houlihan Lokey declined to comment on the matter, SCG was not immediately reachable for a statement. The potential sale of SCG comes as the telecom and cloud services industry continues to evolve, with companies exploring strategic options to remain competitive in the rapidly changing market.
