Teleste to sell German services business to Circet
OCTOBER 6, 2020 12.09 EUROPE/LONDON BY JULIAN CLOVER

Teleste has agreed to to sell its services business in Germany to Circet Deutschland for €8 million.

The telecom network service provider has activities in the UK, Spain, Germany and Morocco.

In May, Teleste signalled its intention to sell the business as part of a revised strategy to focus on the higher revenue technology business operations.

In a statement, Teleste said the divestiture would safeguard its capability to invest in growth areas of its technology and product businesses and improve its financial position.