Business

Friday 30 September 2016

In brief... Coilte to sell off its telecoms infrastructure

Published 28/08/2015 | 02:30

Sale: Coillte telecommunications portfolio
Sale: Coillte telecommunications portfolio

Coillte has agreed to sell its 300 mast-strong telecommunications portfolio to French investment fund InfraVia for an undisclosed fee.

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While the details of the deal were not released, market experts estimate that the assets would have fetched between €60m and €70m.

Of its 300 telecommunications masts and equipment locations, Coillte had developed 104 of them while the remainder were developed by mobile operators on leased land.

New business hub for rural area

A new state-of-the-art business hub named ManorHUB will open on September 17 in Manorhamilton, Co Leitrim.

The business centre is developed to provide an urban solution to rural problems such as location isolation, poor broadband infrastructure and lack of executive business facilities.

The high-tech hub will offer 100MB broadband, a boardroom/training room with full audio and visual conferencing facilities and hot desks.

The new hub, which is supported by the Local Enterprise Office, aims to give solo professionals a chance to maximise their business opportunity.

Royal London's Irish arm figures up 31pc

Both the Irish and UK divisions of Royal London, the mutual insurance group,  have reported strong growth in the company's interim figures for H115.

The company reports that its new life and pensions business has grown by 34pc compared with the same period last year to €4.12m.

The interim figures show that the Irish division of the company has grown by 31pc ahead of H114 annualised premium equivalent levels.

The Irish division of Royal London, which was previously known as Caledonian Life, was purchased by the company three years ago.

The company reports that sales in its Irish arm have risen by 170pc since 2011 to €7.28m.

Irish Independent

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