IT SERVICES provider Redcentric has sold some of its fibre networks to Gigabit City builder CityFibre in a deal worth £5m.
It says the transaction is “earnings neutral” as although it will cost the company £500,000 a year initially, reduced depreciation and interest charges offset the decline.
The Harrogate-based company has disposed of 137km worth of networks in Cambridge, Portsmouth and Southampton, which serve 188 customers.
