History
For more details on this topic, see Communications in the Isle of Man#Telephones.Historically, the telephone system in the Isle of Man had been run as a monopoly by the British General Post Office, and later British Telecommunications, and operated as part of the Liverpool telephone district.
In 1985, the Manx Government announced that it would award a 20-year licence to operate the telephone system in a tender process. As part of this process, in 1986 British Telecom created a Manx-registered subsidiary company, Manx Telecom, to bid for the tender. It was believed that a local identity and management would be more politically acceptable in the tendering process as they competed with Cable & Wireless to win the licence.
Manx Telecom won the tender, and commenced operations under the new identity from 1 January 1987.
On 17 November 2001, Manx Telecom became part of mmO2 following the demerger of BT Wireless's operations from BT Group.
On 4 June 2010 Manx Telecom was sold to UK private equity investor HgCapital (who were buying the majority stake), alongside telecoms management company CPS Partners. HG Capital indicated that the enterprise value of the deal was 158.8 million pounds ($232.5 million).
Read more about this topic: Manx Telecom
Famous quotes containing the word history:
“Both place and time were changed, and I dwelt nearer to those parts of the universe and to those eras in history which had most attracted me.”
—Henry David Thoreau (1817–1862)
“Boys forget what their country means by just reading “the land of the free” in history books. Then they get to be men, they forget even more. Liberty’s too precious a thing to be buried in books.”
—Sidney Buchman (1902–1975)
“It takes a great deal of history to produce a little literature.”
—Henry James (1843–1916)