Bigblu Broadband has today announced the sale of its UK and European satellite broadband operations to Eutelsat for a maximum consideration of £39.3m, with £37.8m payable in cash upon completion. This represents 7.0x FY19 EBITDA of £5.6m for the sale assets, and values the assets ahead of other UK telecom and satellite peers on c6x EV/EBITDA. BBB intends to use the proceeds to reduce its net debt, and evaluate opportunities to enhance shareholder value that could include sha
31 Jul 2020
Bigblu Broadband - UK & European satellite operations to be sold to Eutelsat
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Bigblu Broadband - UK & European satellite operations to be sold to Eutelsat
Bigblu Broadband plc (BBB:LON) | 33.5 0 0.0% | Mkt Cap: 19.6m
- Published:
31 Jul 2020 -
Author:
Andrew Darley | Michael Hill -
Pages:
23
Bigblu Broadband has today announced the sale of its UK and European satellite broadband operations to Eutelsat for a maximum consideration of £39.3m, with £37.8m payable in cash upon completion. This represents 7.0x FY19 EBITDA of £5.6m for the sale assets, and values the assets ahead of other UK telecom and satellite peers on c6x EV/EBITDA. BBB intends to use the proceeds to reduce its net debt, and evaluate opportunities to enhance shareholder value that could include sha