12th Oct 2007 15:06
Scottish & Southern Energy PLC12 October 2007 SCOTTISH AND SOUTHERN ENERGY PLC ACQUISITION OF FIBRE OPTIC NETWORK Scottish and Southern Energy plc ("SSE") has entered into an agreement toacquire a 1,100km fibre optic network from TeliaSonera International Carrier UKLtd, for a total consideration of £12.5m. The acquisition means that the networkowned and operated by SSE's telecoms subsidiary, Neos Networks, will increase to3,500km. The asset acquired by SSE comprises a duct containing fibre running betweenLondon, Bristol, Manchester and Leeds, plus ten operational repeater sites. Thisprovides SSE with owned fibre capacity throughout the UK, together with localconnectivity that could be integrated into its existing network. The enlargednetwork will enable Neos Networks to provide a greater volume of large bandwidthservices. The acquisition follows the sale, in August 2007, of SSE's telecoms sitesassets, which was in line with its stated strategy of focusing its telecomsbusiness on network-related services. Ian Marchant, Chief Executive of SSE, said: "The acquisition of this additionalnetwork is clearly in line with the stated strategy for our telecoms business.It will allow us to enhance our provision of networking services to othertelecoms providers, companies and public sector organisations, and furtherdevelop our telecoms business based around fibre assets, ducts and buildings." Adrian Pike, Managing Director of SSE's telecoms business, said: "We haveachieved significant growth over the last few years, based on innovation,competitive pricing and quality of service. Extensions such as this to our fibreoptic network will provide the foundation for additional growth in the future,complemented by an ongoing focus on customer service." -ends- This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
SSE