Cordiant Digital Infrastructure moved a step closer to completing its takeover of BT Group’s Irish wholesale and enterprise business after securing approval from the country’s competition authority.

The €22 million deal was announced in February and is being made through its Speed Fibre Group subsidiary.

While approval from The Republic of Ireland’s Competition and Consumer Protection Commission has been secured, Cordiant noted in an investor statement some closing conditions remain.

These include clearance under Ireland’s foreign direct investment legislation as well as the transfer of retained businesses from BT Communications Ireland (BTCIL) back to BT.

After these conditions are met, the transaction is expected to close later this year.

The acquisition will see buyer Speed Fibre Group take control of BTCIL, including local network infrastructure, customer base and supporting teams.

As part of the deal, BT and Speed Fibre Group arranged a long-term supply agreement.

In its initial announcement, the UK-based operator explained it plans to maintain a strong foothold in Ireland, continuing to offer connectivity, cloud, and security solutions to its multinational and large enterprise clients.

The move is part of BT’s ongoing efforts to reduce its global footprint and focus on its core UK market.