There was an interesting bit of consolidation over in the UK today. CityFibre has announced the acquisition of FibreNation from TalkTalk Group. The deal would leave TalkTalk as a wholesale customer of CityFibre for both consumers and businesses.
The deal expands CityFibre’s fiber-to-the-premises rollout plans from 5M homes up to 8M now, with an expected price tag of £4B in the end and 7K construction jobs along the way. In parallel CityFibre and Vodafone inked an agreement to modify their existing partnership. CityFibre will now be able to open its consumer networks to other ISPs sooner than originally planned.
FibreNation started out as a JV between TalkTalk, Sky, and CityFibre in York, where they have some 49K on-net homes. They are currently building out network in Harrogate and Dewsbury, and is preparing to enter Knaresborough and Ripon.
The deal will cost CityFibre £200M, which TalkTalk will put toward reducing its debt.
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Categories: FTTH · Mergers and Acquisitions
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