A ?158 million deal to buy Manx Telecom is being 'cautiously welcomed' by a stockbroker in the Isle of Man.
Telefonica has sold MT to communications company CPS Partners, and private equity investor HgCapital.
The move has been largely welcomed, although questions remain over whether new funds will be committed to the Isle of Man operation.
Associate director for Collins Stewart wealth management in Douglas Rick Bellwood hopes the new owners work with the Manx Telecom team to make the partnership a success:
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