Daisy/Redstone deal completes

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Daisy Communications and Redstone Group confirmed today the sale of Redstone Telecom to Daisy for £17 million.

Daisy takes over Redstone’s fixed line, service provision and mobile airtime distribution units. Redstone retains its ICT services business.

In the year ending 31 March 2009, Redstone Telecom generated unaudited revenue of £74.7 million and EBITDA of £4.6 million.

Daisy purchased AT Communications and Eurotel for a combined £20 million last month.

Daisy was also involved in an £81 million reverse takeover last month with broadband provider Freedom4 Group, which has been absorbed under the Daisy name.

 

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