(Alliance News) - Digital 9 Infrastructure PLC shares fell on Thursday, after it said the sale of Verne Group will be delayed.

Digital 9 is a London-based investor in internet infrastructure, such as data centres and subsea fibre.

Its shares were down 19% to 18.83 pence each in London on Thursday around midday. Over the past 12 months, the stock is down 78%.

In November, Digital 9 had announced the sale of its stake in the Verne Group for up to USD575 million. The disposal of the data group to funds managed by Ardian France SA comprises USD440 million in cash, split between USD415 million payable on closure of the deal and deferred consideration of USD25 million.

On Thursday, it said that its investment manager, Triple Point Management LLP, has been notified by the buyer that the Iceland anti-trust authority has decided to open a phase 2 investigation into the Verne transaction.

"Under the relevant applicable law, the period for the phase 2 investigation is up to 90 working days which can be extended to 125 working days. The Icelandic anti-trust authority is not obliged to use the full period to conclude its review," Digital 9 said.

By Sophie Rose, Alliance News senior reporter

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