International law firm Bird & Bird has advised the Viatel group in connection with the sale of the UK subsidiary and operator of the group's retail business, VTL (UK) Limited, to MDNX Limited.
VTL (UK) Limited provides a range of data communication products, including MPLS VPN, VoIP, Ethernet, DSL, e-mail, security and mail control.
MDNX focuses on the provision of communications services from circuit switched telephony to hosted and managed IP voice solutions, as well as data and internet services.
Viatel retains extensive network assets, including a 7,000 kilometre backbone network connecting 19 cities in 6 countries. Operating under the "VTL WaveNet" brand, Viatel will continue to operate this network and related business, selling dark fibre, wavelength, leased line, Gigabit Ethernet and co-location services. The sale proceeds will be used to develop the VTL WaveNet business and product range.
The Bird & Bird team was led by London corporate partner, Stuart Blythe. Commenting on the sale, Stuart said: "Given that Viatel's retail business was only launched in 2004, its sale is a great testament to the company and its management. We were delighted to have advised them on the transaction."
Lucy Woods, CEO of Viatel said: "The sale of VTL UK to MDNX means that we can now focus on our European network business. The European wholesale market is an exciting area and we're looking forward to putting more emphasis on our operations here."