JT Group buys Isle of Man telecoms provider

JT Group will become the largest telecoms provider for the UK Crown Dependencies

Jersey Telecom's parent company has announced its acquisition of the Isle of Man's leading telecoms provider.

JT Group said it had agreed to purchase Manx Telecom Group to become the largest provider across the UK Crown Dependencies.

The combined group will serve customers in Jersey, Guernsey, and the Isle of Man and said it was committed to investing in "resilient and secure, next generation digital networks".

JT Group - which made the acquisition with the support of infrastructure fund manager CVC DIF - said the move would "build a powerful platform for innovation" rooted in "supporting local communities".

CEO of JT Group Daragh McDermott said the company shared "similar values and ambition [with Manx Telecom Group], making the acquisition a perfect fit".

And the CEO of Manx Telecom Group Gary Lamb said the move marked an "exciting new chapter".

The Government of Jersey described Jersey Telecoms as a "strategic national asset" and said it continued to be owned wholly by the States of Jersey.

"This acquisition strengthens JT's position and growth plans and reinforces our commitment to digital leadership and economic resilience," said Elaine Millar, minister for treasury and resources.