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Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →The reported $10 billion Global Switch deal was a possible valuation, not a confirmed sale price. Shareholders confirmed in June 2022 that they were exploring a divestment, but the company later announced a separate Australian sale and a London co-investment process—not a completed sale of its London portfolio or the whole group. The public announcements reviewed through 2026 do not establish the London process’s final outcome.
What did the $10 billion headline mean?
On 18 May 2022, Bloomberg News reported that Global Switch’s owners could launch a formal sale process. The report said a transaction might value the data-center company at £8 billion ($10 billion) or more, citing people familiar with the matter. That figure was a reported potential valuation, not a confirmed asking price, bid, sale price or completed transaction.
The report described deliberations that were still under way. It also said there was no certainty that a bidder would make an offer or that the owners would sell. So “kick off” referred to a possible start to a process, not evidence that a sale had closed.
What happened after the 2022 report?
June 2022: shareholders confirmed they were exploring a divestment
Global Switch said its shareholders were exploring a potential divestment and had appointed J.P. Morgan, Morgan Stanley, UBS and CITIC Securities as joint financial advisers. The company cautioned: “There is no certainty that any transaction will proceed.” This confirmed that a sale was being considered, but not that one would happen.
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December 2024: the Australian business was sold
Global Switch announced that the sale of Global Switch Australia Holdings Ltd had completed for A$2.12 billion. That was a sale of the Australian entity, not proof that the London portfolio or the entire group had been sold.
December 2024: a London co-investment process began
In the same announcement, Global Switch said UBS had been appointed to explore co-investment opportunities in its London portfolio and that the formal UK process had commenced. The company said: “The formal process of exploring co-investment in the UK has commenced in London and the Company will provide a further update in due course.” This described an exploration of co-investment, not a completed investment or sale.
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Has Global Switch or its London portfolio since been sold?
The public announcement index reviewed for this article includes company items through April 2026, but it does not list an outcome for the London co-investment process. On that public record, the outcome remains unresolved: the materials do not establish that Global Switch or its London portfolio has since been sold, or disclose the terms or result of the co-investment exploration. An absent announcement in the reviewed index cannot rule out private developments or later disclosures not listed there.
Companies House lists Global Switch Limited as active, with accounts last made up to 31 December 2025 and a confirmation statement dated 4 May 2026. That entry describes the status of a legal entity; it does not establish the ownership or transaction status of the holding company or London portfolio.
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How do the reported figures compare?
| Figure | What it refers to | What it does not establish |
|---|---|---|
| £8 billion ($10 billion) or more | Bloomberg News’s May 2022 report of a possible value for a prospective transaction, based on unnamed people familiar with the matter. | Not a confirmed asking price, bid, completed sale price or current valuation. |
| A$2.12 billion | Global Switch’s announced consideration for the completed sale of Global Switch Australia Holdings Ltd in December 2024. | Not the sale price for the London portfolio or the whole group. |
| £419.6 million revenue; £251.4 million EBITDA; £6,206.4 million investment-property valuation | Global Switch Holdings Limited’s annual report for the year ended 31 December 2021. | Historical group results and property valuation, not a contemporaneous 2022 deal valuation or current transaction terms. |
The figures measure different things and come from different dates: the 2022 report discussed a possible transaction value; the 2024 announcement gave consideration for a completed Australian divestment; and the 2021 annual report recorded historical group results and an investment-property valuation. They should not be treated as interchangeable estimates of what the London assets are worth today.
What was included in the London process?
In its December 2024 announcement, Global Switch described its London portfolio as two operating data centers plus a new, high-density hyperscale neo-cloud development in Docklands. The company said the portfolio had secured access to 224 MVA of power over the coming five years. That was a forward-looking access figure, not a claim that all of the power had already been delivered.
Global Switch also reported that more than 10,000 Nvidia H200 and H100 GPUs had already been deployed on its London campus at the time of the announcement. These are company-reported figures dated December 2024, not independently established current capacity or deployment totals.
Quick Recap
What is the most accurate way to describe the story?
- The $10 billion figure was a 2022 report of a possible transaction valuation, not a confirmed sale price.
- Shareholders confirmed that they were exploring a divestment in June 2022, while warning that no transaction was certain.
- The completed A$2.12 billion transaction announced in 2024 concerned Global Switch Australia Holdings Ltd.
- The separate London development announced in 2024 was an exploration of co-investment, with UBS advising; the public sources reviewed do not establish its final outcome.
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