BT plans to exit the Irish market though the £400m (€462m) sale of BT Ireland.

This is according to a report from the Daily Telegraph.

BT Ireland services corporate clients across the country.

The British multinational has reportedly invited bids for BT Ireland as part of a purging of its Global Services international arm.

BT Ireland, which employs around 600 people here, last year reported a profit of €34m on revenue of €425m, according to filings at the Companies Registration Office.

The Telegraph reports sources as saying that BT Ireland’s underlying earnings of around €50m could attract bids in the €350m to €500m range from private equity players, as well as pension funds.

BT Ireland, which operates in five cities across the country, is synonymous with the Young Scientist & Technology Exhibition, an annual event it has been involved in for 17 years.

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