Basalt Infrastructure Partners completed the acquisition of Manx Telecom for £256m.

Basalt completed the acquisition of Manx, the provider of broadband and telecommunications on the Isle of Man, for £256m. Manx Shareholders will receive 215 pence in cash for each Manx Share. Offer represents a premium of approximately 14.7%. to the closing price of 187.5 pence per Manx Share on the latest practicable date. "We are pleased to announce Basalt's board recommended offer for Manx, which provides cash certainty to shareholders. We are keen to support the company through its next phase of capital investment, which includes funding fiber to the premises, its commitment to Vannin Ventures and the future requirement of a 5G network rollout. We look forward to working closely with Manx's management team and employees to continue to provide high-quality services to customers and position the company for the future, Steven Lowry, Basalt Infrastructure Partner.