CityFibre attracts over £1.4B in ‘largest-ever’ raise for UK full-fibre

CityFibre attracts over £1.4B in ‘largest-ever’ raise for UK full-fibre
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CityFibre has attracted over £1.4 billion in the “largest-ever capital raise” for a UK full-fibre deployment.

The milestone was reached following a further equity commitment of £300m from its existing shareholder, Mubadala Investment Company.

Greg Mesch, Chief Executive at CityFibre, said:

“Mubadala’s confidence in our business is testament to our growing momentum and progress.

The need and appetite for carrier-neutral wholesale network competition at scale is clear, and CityFibre continues to demonstrate the benefits as a driver of wider investment, improved services, and better value.

With Mubadala’s continued support, we are well funded to deliver the UK’s finest full-fibre network and help to level-up the UK.”

Mubadala initially invested £500 million into CityFibre as part of wider financing in September 2021 alongside Interogo. The pair joined existing investors Antin Infrastructure Partners and the Infrastructure business within Goldman Sachs Asset Management.

Altogether, the investments into CityFibre over the last six months total £1.425 billion.

CityFibre is the largest full-fibre provider in 26 cities. The latest investment will help CityFibre to further bolster its rollout.

The operator is currently undertaking a £4 billion programme to deploy full-fibre infrastructure to cover up to eight million homes by 2025. Deployments are currently underway across more than 60 major metro areas, spanning 285 cities, towns, and villages.

As a wholesale-only, carrier-neutral operator, CityFibre offers up its infrastructure to business and consumer ISPs – including Vodafone, TalkTalk, Zen, and over 30 independent firms across the UK – in addition to service integrators and mobile operators.

CityFibre also claims that its ‘city-wide’ networks are designed to “underpin the digital requirements of all market verticals including public sector and business, as well as enabling the rollout of 5G services and other Smart City initiatives.”

The company boasts that its fully upgradeable network technology can provide future services at 100Gbps and beyond.

(Image Credit: CityFibre)

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