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BtoB

Energis snaps up EnerTel for $573 million

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London--Energis plc, the U.K.'s largest carrier of online traffic, said it will acquire EnerTel NV, Rotterdam, Netherlands, for $573 million. Telecommunications company EnerTel provides voice, data, video and Internet services to businesses across Europe. The European business telecommunications market is expected to grow to $180 billion by 2003, up from $90 billion in 1997. To pay for EnerTel, Energis will sell 14.7 million new shares in a private placement with investors and arrange for new bank loans.
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