GTT Communications Inc (GTT)

[makinezmoney]

$GTT : Huge news.... $2.1Billion Definitive Agreement for SALE


Market cap right now only $365 Billion.

Sale should bring value of Shares from $5.50 now to over $20/sh


GO $GTT

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GTT Communications stock spikes higher after $2.15 billion deal to sell its infrastructure division
9:34 AM ET 10/16/20 | Dow Jones
Related Quotes


10:07 AM ET 10/16/20
Symbol Last % Chg
GTT
5.65 12.77%
Real time quote.



Shares of GTT Communications Inc. (GTT) shot up 23.2% in morning trading Friday, after the provider of cloud networking services said it reached a deal to sell its infrastructure businesses for $2.15 billion to I Squared Capital. GTT said its infrastructure division includes its businesses providing pan-European, North American, sub-sea and trans-Atlantic fiber network and data center infrastructure services. As part of the deal, GTT will receive an upfront cash payment of $2.02 billion closing, which is expected to occur during the first half of 2021, and total deferred payments of up to $130 million based on certain financial results. GTT's stock has tumbled 45.0% year to date, while the S&P 500 has gained 8.2%.

-Tomi Kilgore; 415-439-6400; [e-mail]

> Dow Jones Newswires

October 16, 2020 09:34 ET (13:34 GMT)

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