Eltel has signed an agreement to divest its Polish Communication business to VINCI Energies, a global player in concessions and contracting. The total consideration of the transaction is about EUR 12.7 million (US$14.23 million). 

The divestment is a part of the strategy where Eltel more clearly focuses on developing the Nordic market, and where the company has a leading market position, high level of expertise, and in which the business model is repetitive and primarily targeted towards build, service, and maintenance.

The transaction is expected to close during the third quarter of 2019.

Eltel is a leading Northern European provider of technical services for critical infrastructure networks – Infranets – in the segments of Power, Communication and Other, with operations throughout the Nordics, Poland and Germany. Eltel provides a broad, integrated range of services from maintenance and upgrade services to project deliveries. Eltel has a diverse contract portfolio and a growing customer base of large network owners.