Portobello Capital, a mid-market private equity manager, is set to acquire the Spanish operations of BT Group, a British telecommunications holding company. Financial terms were not disclosed. The transaction is subject to regulatory approval and is expected to complete in the first half of 2020. Assets in the transaction include a 5,6k km owned and leased optical fiber network, fully owned city fiber networks in Barcelona and Madrid and three data centers. “We are very pleased to invest in one of the leading providers of managed telecommunications services to the corporate market in Spain. We look forward to continued investment in the development of the business for the benefit of new and existing customers in the region,” Luis Penarrocha, Portobello Capital Founding Partner.