Telecity confirms talks to buy Irish rival Data Electronics

European data center provider Telecity Group PLC Monday confirmed it is in talks over a potential acquisition of Irish rival Data Electronics Group Ltd. Telecity, which was responding to press speculation about a possible approach to Data Electronics, said any deal would be funded from its existing debt facilities. In May the company said there were "significant opportunities for the group to expand its footprint in Europe," adding it had added GBP100 million to its debt facility, taking it to a total of GBP300 million.

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