SSE PLC agreed to sell a 50% share of its SSE Enterprise Telecoms Ltd. business to Infracapital for £380 million, according to a Dec. 21 company news release.

SSE Enterprise Telecoms provides carrier ethernet, internet, optical networking and co-location services in the U.K. SSE PLC will use the cash proceeds from the transaction to reduce net debt.

"High-speed connectivity is vital to economic growth and prosperity and we are delighted to announce this partnership with SSE plc. SSE Enterprise Telecoms is an established telecoms infrastructure provider, with a 12,000 km fibre network, and is well positioned to support growth in this critical sector," said Infracapital Director James Harraway. "Infracapital has considerable expertise of investing in digital infrastructure and we look forward to working closely with our new partners as the business continues to grow, deliver new projects and expand its networks."