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GTT Communications To Buy Interoute For About $2.3 Bln In Cash

GTT Communications Inc. (GTT) said that it agreed to acquire Interoute, operator of one of Europe's largest independent fiber networks and cloud networking platforms, for about 1.9 billion euros or $2.3 billion in cash.

GTT said it received committed debt financing for the transaction from a group of financial institutions and committed equity financing of $250 million from GTT's largest institutional investor, The Spruce House Partnership, and Acacia Partners.

GTT expects the transaction to close in three to six months, subject to customary regulatory approvals.

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