Bigblu Broadband plc (GB:BBB) has released an update.
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Bigblu Broadband plc has agreed to sell its Australian subsidiary, SkyMesh Pty Ltd, to SKM Telecommunication Services Pty Ltd for up to AUD$50.20 million. This transaction, which awaits shareholder approval, is expected to generate significant returns and will be utilized to reduce debt and potentially return cash to shareholders. The sale represents a strategic move to focus on core business operations while retaining a stake in SkyMesh’s future growth.
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