UK markets close in 2 hours 38 minutes

GTT Communications, Inc. (GTT)

NYSE - NYSE Delayed price. Currency in USD
Add to watchlist
3.9200-0.0300 (-0.76%)
At close: 4:00PM EST
Full screen
Loading interactive chart…
  • GTT Communications (NYSE:GTT) Share Prices Have Dropped 89% In The Last Three Years
    Simply Wall St.

    GTT Communications (NYSE:GTT) Share Prices Have Dropped 89% In The Last Three Years

    Every investor on earth makes bad calls sometimes. But really big losses can really drag down an overall portfolio. So...

  • Why Shares of GTT Communications Skyrocketed Today
    Motley Fool

    Why Shares of GTT Communications Skyrocketed Today

    GTT Communications (NYSE: GTT) stock spiked today after the company said it had reached a deal to sell its infrastructure division to I Squared Capital. Shares of the technology company jumped by as much as 31% on the news this morning but were up by 8.5% as of 11:38 a.m. EDT. GTT Communications said in a press release that the company is selling its infrastructure division, which consists of its "Pan-European, North American, sub-sea and trans-Atlantic fiber network and data center infrastructure services" for $2.15 billion.

  • Reuters

    GTT to sell infrastructure unit to I Squared for $2.15 billion

    The network opens new markets to I Squared Capital as demand for telecommuting, remote classes and other virtual activities grows during the coronavirus pandemic. GTT said it would use proceeds to pay down the $3.2 billion in long-term debt built up after an acquisition spree over the last decade.GTT had been exploring the sale since last year, which it expected to deliver $370 million to $390 million in revenue with comparable earnings before interest, taxes, depreciation and amortization (EBITDA) of $160 million to $180 million. Fiber-optics are gaining investor interest as wireless providers build out networks for 5G, the next-generation wireless technology.