Gov’s 2025 Spending Review Delays UK Gigabit Broadband Target to 2032 | ISPreview UK

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The UK Government’s Chancellor of the Exchequer, Rachel Reeves, has today delivered her 2025 Spending Review, which included a few bits of new information and updated figures for telecoms. But as well as confirming £1.9bn for broadband and mobile projects (existing commitments), it also appeared to reflect a delay to the gigabit broadband roll-out from 2030 to 2032.

The latest Spending Review sets out the planned day-to-day spending totals for all government departments for the years from 2026/27 to 2028/29, and investment spending plans for a further year (from 2026/27 to 2029/30). This covers all the spending that can reasonably be planned in advance, making up about 40% of all public spending (the remaining spending is usually driven by demand that can’t be planned, such as benefits).

NOTE: Currently over 74% of the UK can already access a “full fibre” (FTTP/B) network (here), which rises to 86% for “gigabit-capable broadband” (FTTP/B + Hybrid Fibre Coax). Elsewhere, geographic 4G mobile coverage stands at around 88-90% (here) and outdoor coverage of 5G premises is 62-85% (rising to 92-96% from at least one operator).

The UK telecoms industry will be keeping a close eye on the latest review, not least for any potential dilution in terms of the government’s commitment toward fixed broadband and mobile networks. The previous Autumn 2024 Budget already committed “over £500m of funding next year” for “improving reliable fast broadband and mobile coverage across our country, including in rural areas“, but the Spending Review covers a wider period.

However, over the past few months we’ve also seen talk about the government potentially cutting some of the c.£2bn that remained unspent within their £5bn Project Gigabit broadband roll-out scheme (i.e. expanding gigabit-capable broadband “nationwide” (c.99% of the UK) by 2030), as well as potentially also reducing their £501m commitment to the £1bn industry-led Shared Rural Network (SRN) project that is expanding 4G mobile coverage into rural areas.

Speaking of which, mobile operators have also been pressing the government for changes in annual licence fees, planning and other areas to help boost 4G and 5G deployments (here). But much of that is perhaps more of a focus for the forthcoming Infrastructure Strategy than this review.

What’s in the 2025 Spending Review

Overall, there isn’t a lot of detail on broadband and mobile matters in the full Spending Review 2025 Document, but this did stick out.

Spending Review Statement on Broadband and Mobile

The SR provides £1.9 billion over the SR period for Building Digital UK (BDUK) to deliver the next phase in the transformation of the country’s digital infrastructure. This includes:

➤ Connecting more homes and businesses to gigabit-capable broadband to reach 99% of UK premises by 2032. BDUK will focus delivery in this SR period on achieving greater coverage in Scotland and Wales, and refresh delivery plans ahead of the Spending Review 2027; and

➤ Working with industry to deliver the Shared Rural Network so the most remote areas have 4G coverage.

This settlement provides up to £1.9 billion over the SR period to deliver a modern digital government. This includes the rollout of new products and services such as the GOV.UK Wallet and App, and productivity-enhancing AI tools across the public sector, and replacing legacy systems.

Ofcom currently forecasts that gigabit-capable broadband should reach around 97-98% of UK premises by May 2027 (here) and so the reality here is that the country should still get very close to that 99% figure by 2030. On the other hand, Project Gigabit, which is focused on upgrading the hardest-to-reach areas (often remote rural locations) has recently suffered a number of contract failures as alternative networks pulled out.

For example, alternative network operator FullFibre Limited recently “mutually agreed to terminate” their Project Gigabit broadband roll-out contracts for the Derbyshire Peak District and Herefordshire area (here), which came after Voneus did the same for Mid West Shropshire (here) and Freedom Fibre followed for Cheshire (here).

The losses aren’t huge, but they do help to underline the wider challenges in today’s market (i.e. higher build costs, high interest rates, competition etc.), which could make tackling that final 1-2% of premises even more of a challenge – one that it seems will now take a couple of years longer than previously planned to resolve. On the flip side, it’s positive that the government has finally confirmed a solid funding pledge to tackle this area.

UPDATE 1:57pm

The first comment has just come in.

Till Sommer, Head of Policy, ISPA UK, said:

“The rollout of gigabit broadband is one of the largest infrastructure projects of its generation, funded overwhelmingly by industry. With 86% of homes now able to access gigabit speeds, we’re at a critical juncture with rollout. The remaining 14% are the most challenging to connect, and this is exactly where Project Gigabit funding matters most to deliver on a new government target of 99% gigabit-capable broadband to UK premises by 2032.

We welcome the £1.9 billion committed over this Spending Review period, which will be important in fuelling the Government’s growth agenda, with digital connectivity providing the backbone of the growth areas in the Government’s Industrial Strategy.

Equally, we urge the Government to double down on efforts to reduce barriers to rollout, to ensure that additional funding is translated into connectivity gains as soon as possible. Clear, consistent support for Project Gigabit is essential if we are to finish the job and ensure no community is left behind in the UK’s digital future.”

Proximus and Thales snag deal to modernise NATO’s core network | Total Telecom

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lighted building at night

News

The deal includes cloud and telecoms infrastructure, as well as the supply of over 5,000 laptops

A partnership between Proximus and Thales has won a contract to modernise the IT infrastructure of NATO’s Communications and Information Agency (NCIA).

The project, which will run until the end of 2029, will see the partners “provide a state-of-the-art integrated technology ecosystem to revolutionize the operations and collaboration of NCIA users”, according to a press release from Proximus.

The deal will see Thales provide secure cloud infrastructure to the organisation, while Proximus will provide Wi-Fi infrastructure at NATO sites in The Hague, Netherlands, and Braine l’Alleud, Belgium.

In addition, Proximus and Thales will provide NCIA with various managed services, including cloud, cybersecurity, platform administration, networking, and end-user devices, including over 5,000 new laptops.

Combined, these services are expected to enhance NCIA’s capabilities, improve compatibility, and ensure optimal performance.

“By outsourcing standard services to trusted industry leaders, NCIA is taking a forward-looking approach that guarantees a fully managed, secure and scalable solution,” said Alex Bottero, Vice President Network Systems and Infrastructure at Thales.

Financial details of the deal were not revealed, but it could be worth over €100 million according to Belgian newspaper L’Echo.

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Also in the news:
Charter and Cox reveal agreement to combine companies
BT in final talks to sell 50% stake in TNT Sports to Warner Bros Discovery 
BT creates standalone international unit as strategic restructuring continues 

AAE-2: New subsea cable announced to connect Asia, Africa and Europe | Total Telecom

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News

The Asia–Africa–Europe-2 (AAE-2) will provide “seamless, reliable connectivity across the three continents” to support the growing data demand across the regions

This week, a consortium comprising PCCW Global, Sparkle, Telecom Egypt, and ZOI have announced plans to construct a new submarine cable system spanning Asia, Africa, and Europe.

The AAE-2 subsea cable will connect Hong Kong and Singapore to Italy, with the journey notably including a number of high-capacity terrestrial crossings through Thailand, the Arabian Peninsula, and Egypt.

Many of the details typically supplied during the announcement of a new submarine cable – length, landing points, capacity, number of fibre pairs, estimated deployment date, etc – were notably absent from the announcement, suggesting the project is still in the very early stages.

The cable will, however, feature “strategic extensions to additional key destinations across its route”, according to a joint press release.

The system will seemingly serve as an upgrade to the Asia Africa Europe-1 (AAE-1) cable, which was built by a consortium of operators in 2017. The AAE-1 system follows a broadly similar route to the AAE-2, but does not feature terrestrial corridors.

“With AAE-2, we are taking a further step forward, contributing to the creation of a distinctive infrastructure that combines terrestrial and subsea solutions to deliver secure, high-capacity and lowlatency connectivity in support of the digital transformation of businesses and communities worldwide,” said Enrico Bagnasco, Chief Executive Officer of Sparkle.

The deal is the second major submarine cable announcement this month, after Google signed a deal with the Chilean government to deploy a cable across the South Pacific to connect the country to Australia.

Also in the news:
SWR deploys Europe’s first ’Rail-5G’ Wi-Fi  
BT accelerates fibre rollout amid cost cuts
AT&T agrees $5.75 billion deal for Lumen’s consumer fibre asset

Broadband ISP Plusnet Gives Up on Free UK Email and Webspace Features | ISPreview UK

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Internet provider Plusnet recently began notifying customers that they “will no longer be offering an email service to new or existing” users of their broadband service, and have instead begun the process of migrating users of their legacy services (inc. webspace and domains) to a new platform. But the new service won’t remain free.

The change, which appears to have begun around mid-April 2025, largely slipped under our radar – until now. This is possibly because only a smaller portion of Plusnet’s customers actually still use their legacy webspace / email services, and they’ve since been gradually informing them about it in phases (usually just before each group is due to be migrated). Credits to Paul for notifying us.

The migration, which will also impact a variety of Plusnet’s older brands/domains (e.g. Madasafish, Callnetuk, Care4free, Dialstart, Freenetname, Globalnet, IC24, ICScotland, Totalserve and Totalise, and Metronet), will see customers having their related accounts, addresses, folders and settings migrated to a new platform delivered by Greenby – part of the Enix Group.

Greenby will provide the migrated users with a double their current mailbox storage (2GB), a dedicated support team and a “modern Email platform with excellent reliability” (as above, domains, webspace and DNS services are also being included/migrated). According to Plusnet, this move “will allow us to continue to focus on doing what we do best, delivering straight forward broadband” (translation: cost-cutting). But the catch is that the new service won’t remain free.

Greenby Statement

If you’re an active Plusnet Broadband customer, the email service with Greenby is provided for the next 2 years free of charge. After which you’ll have the option to pay to continue using your mailbox and webspace. For everyone else, the service will remain active for 30 days after your migration, and after this will cost £15 per year. This covers all your existing mailboxes, plus any new ones you choose to create.

Providing a reliable and secure email service requires significant resources. For customers without an active Plusnet broadband package, we’ve kept the price as low as possible to ensure we can continue delivering a high-quality service and keep your email running smoothly. We understand that many people rely on email addresses they’ve used for years, and it’s important that those who want to keep using the service can do so with confidence in its reliability.

In terms of customers who have a domain attached to their website, Greenby states that Plusnet will honour any free domains where applicable and renew them for the next 2 years. All other domains will be charged at Greenby’s standard renewal rates: £7 per year for .co.uk, .org.uk, or .uk domains, and £12 per year for .com, .net, or .org domains. More details on this migration can be found here and here.

Customers can of course elect not to be migrated to the new platform provider, but that will mean losing access to their legacy email and webspace accounts. In fairness, Plusnet is one of the last ISPs to go through this sort of process, with many others having long since jettisoned the baggage of their bundled email and webspace services or converted to more of a paid solution.

As we’ve said many times before, it’s always wise to use a separate email service from the one provided by your ISP, not least because it can make it harder for you to switch broadband providers (i.e. you run the risk of losing access to your address) and Ofcom doesn’t regulate email services (i.e. there isn’t much support for those who experience difficulties). In general, it’s often far better to sign-up with one of the many free email providers.

The issue of webspace is somewhat more complex, although you can still find some “free” webspace providers dotted around the internet (e.g. InfinityFree), but they’ll often be from unfamiliar organisations and may attach other caveats (e.g. a few others will attach a requirement to show their adverts on your site).

Disputed Invoice Causes Brief Headache for Network Provider Fibre 1 | ISPreview UK

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Network operator Fibre 1 Limited, which typically focuses more on Scotland and offers a range of broadband / Ethernet / internet connectivity services to businesses, recently ran into a problem after a disputed invoice briefly led to a court action to appoint a provisional liquidator. But this issue was promptly reversed and settled.

According to Companies House (SC491330), Fibre 1 first posted notice of the event on 4th June 2025, with the related document stating that the Sheriff Court at ElginNominates and Appoints Kevin Mapstone, Insolvency Practitioner of Begbies Trayor, (Central) Ltd” to be “provisional liquidator” of the company (effective on 29th May 2025).

A provisional liquidator can be appointed by the court to take control of a company’s assets before a full winding-up order is made, or while a winding-up petition is being heard. Their role is mainly to preserve a company’s assets and to also investigate any potential issues.

The development was soon spotted by some of ISPreview’s readers. But customers of the service need not be too concerned, as Companies House issued an update yesterday to confirm that the appointment of a provisional liquidator to the company had been terminated.

Fibre 1 Limited has since confirmed that a single disputed invoice, which led to a court action to appoint a provisional liquidator, had now been settled (paid) in full as of Friday 6th June 2025. The company remains fully operational, and services to customers have continued without interruption throughout. The company is actively working with the relevant authorities, including Companies House, to ensure public records are updated to reflect the current status.

Stewart Macdonald, Fibre 1, said:

“This matter arose from a one-off invoice dispute which has now been fully resolved. The debt was paid in full last week, and we remain committed to delivering our best-in-class services to our customers across Scotland and beyond. We expect Companies House to update its records in short order.”

BT Allegedly Explores Acquisition of Struggling UK Broadband ISP TalkTalk | ISPreview UK

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A newspaper has claimed that telecoms giant BT (EE, Plusnet etc.) is allegedly in the “early stages of exploring a takeover” of debt-laden broadband ISP TalkTalk. The news follows only days after Openreach reportedly threatened to block the troubled internet provider from adding new customers (here) due to concerns over delayed payments.

Firstly, we’re going to assume that most of our readers are now fairly familiar with the roller coaster ride of events around TalkTalk, which last year secured a crucial refinancing package worth c. £400m (here and here) – saving it from the immediate risk of a default on its debts. Nevertheless, the ISP recently reported losing around 400,000 customers in the year (total of 3.2m) and, as above, has experienced a few disputes (here).

NOTE: Openreach lost 707k broadband connections to rivals in 2024 and 243k in the last quarter alone (here and here) – mostly from areas where they’ve yet to deploy FTTP. BT’s consumer divisions are separately home to a total of 8.198 million residential broadband connections (down from 8.234m in H1) and 588k business broadband connections (down from 609k).

According to the Telegraph, BT is now said by “insiders” to be exploring the possibility of making a bid for the struggling ISP. The news comes amid fears that its own network access business, Openreach, could be damaged by TalkTalk’s financial challenges (Openreach holds around 3 million of their broadband base, with CityFibre accounting for c.150,000).

However, the report claims that BT has yet to formally propose such a bid to TalkTalk, which in any case would first need the nod of approval from both Ofcom and the competition regulator (CMA). But securing such approval would be extremely difficult and take a lot of time, not least due to BT’s own position as the market’s largest retail broadband provider and TalkTalk’s strong ties to rival networks.

The period of uncertainly all this would create might also risk accelerating TalkTalk’s problems by fuelling more uncertainty for customers. Suffice to say that we have our doubts about today’s new report, although there is little doubt that TalkTalk has plenty of problems.

Ofcom does also have a Supplier of Last Resort (SoLR) process to protect customers in the event of a big ISP failure. In that case, not many ISPs, except BT, would have the available scale needed to rescue a base of TalkTalk’s size in a short space of time, and that’s before we get into the complexity of their arrangements with altnets etc.

As usual, neither BT nor TalkTalk have commented on the new report, which for now should be taken with a pinch of salt.

UK govt and NVIDIA pledge to deepen AI partnership | Total Telecom

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News

A new Memorandum of Understanding (MoU) between NVIDIA and the Department for Science, Innovation and Technology (DSIT) will see greater focus placed on Advanced Connectivity Technologies (ACT)

The UK government continues to court favour with AI chip giant NVIDIA, striking an MoU with the company this week to help inject AI into UK universities.

The MoU, signed by Sir Chris Bryant, Minister of State for Data Protection and Telecoms, and Ronnie Vasishta, NVIDIA’s SVP Telecom, will see DSIT facilitate greater collaboration between NVIDIA and academia, with the goal of developing new technologies and commercial use cases.

More specifically, the partnership seeks to leverage NVIDIA’s 6G Developer Program and Academic Grant Program, both of which make use of the chip giant’s AI Aerial platform and supporting technologies. These programs, NVIDIA says, will help UK researchers to develop and test new AI tools, testing technologies, and curated data sets to facilitate R&D.

Alongside the creation of new AI tools and technologies, the partnership is also aimed at contributing to global technology standards, particularly 6G.

The signing comes in tandem with NVIDA CEO Jensen Huang appearing on stage with Prime Minister Kier Starmer at London Tech Week 2025, promising to make the UK an ‘AI Maker, Not an AI Taker’. As part of this pledge, NVIDIA said it will be launching a new AI Technology Center seeking to offer ‘hands on’ training in AI, data science, and accelerated computing technologies.

Join us at Connected Britain, 24-25 September in London. Tickets available here  

Also in the news:
SWR deploys Europe’s first ’Rail-5G’ Wi-Fi  
BT accelerates fibre rollout amid cost cuts
AT&T agrees $5.75 billion deal for Lumen’s consumer fibre asset

Ciena Publishes Report Analyzing the Impact of AI, DCI, and Cloud Evolution on Wave Services Demand | Total Telecom

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HANOVER, Md., USA – June 10, 2025 – Ciena (NYSE: CIEN) has compiled a new report on wavelength services – the first of its kind – that explores the key drivers of the need for high-speed connectivity. The report examines the critical role of wave services in enabling the expansion of interconnected data centers driven by Artificial Intelligence (AI), the growing importance of low latency and data sovereignty for AI workloads, and the build-out of terrestrial and critical submarine network infrastructure. It also highlights the pivotal role of managed optical fiber network (MOFN) business models to expand high-speed connectivity into new geographies and markets.

 

“As cloud providers scale data center networks to address AI performance requirements, wave services must also evolve in terms of capacity, coverage, latency, and route diversity,” said Mark Bieberich, Vice President of Portfolio Marketing, Ciena. “Demand for wave services is growing steadily worldwide, as data center network expansion requires increasingly high-capacity interconnection among various types of network operators and end users.”

 

Wave Services Circuits Grow

 

The total wave services circuits market in the U.S. grew nearly eight percent in 2024 and is projected to grow steadily through 2029, based on research from Vertical Systems Group. It observed an increasing use of wave services for cloud on-ramps, which is demonstrated by the metro geographical scope (41%) along with the dominance of retail customers (58%).

 

Graphic Source: Vertical Systems Group, “Wavelength Circuits by Geographic Scope” and “Retail vs. Wholesale Wavelength Circuits,” May 2025

 

 

The report states that, from 2024 to 2029, growth in 400G circuits is set to soar, while 100G circuits will see a steady rise, and 10G circuits will experience modest growth.

 

Wave services are the foundation of most high-capacity networks, particularly when connectivity to or between data centers is involved. High bandwidth, protocol transparency, and low latency are some of their fundamental characteristics. Wave services can either act as end services or support higher-layer services. Based on Dense Wavelength Division Multiplexing (DWDM) technology, they enable massive data-transmission bandwidth over a fiber pair. Currently, wave services are dominated by 100G and 400G connections. There is still a high volume of 10G services deployed, but they are being upgraded to 100G at a steady pace.

 

Submarine cable growth

 

In addition, Ciena’s report looks at the growth of submarine cables. It highlights that a record 161,100 kilometers of submarine cables are planned to become ready for service (RFS) in 2025, dwarfing the previous high of 121,000 kilometers becoming RFS back in 2001.

 

“With infrastructure expanding rapidly and resource constraints increasingly shaping growth, anticipating demand has never been more important,” Bieberich added. “Network operators providing wave services can seize this moment by proactively routing new submarine cables to emerging data centers and innovating to address these challenges. Differentiation through greater route diversity, low-latency connectivity, and compelling managed services is key to staying ahead.”

 

The report provides a thorough analysis of the current industry landscape, evaluating key trends and identifying factors poised to influence the market in the coming years. The report’s forecasting illuminates the path forward, enabling stakeholders to effectively strategize and maintain a competitive edge in their fields. Read the full Wave Services report here.

 

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About Ciena

Ciena is the global leader in high-speed connectivity. We build the world’s most adaptive networks to support exponential growth in bandwidth demand. By harnessing the power of our networking systems, components, automation software, and services, Ciena revolutionizes data transmission and network management. With unparalleled expertise and innovation, we empower our customers, partners, and communities to thrive in the AI era. For updates on Ciena, follow us on LinkedIn and X, or visit the Ciena Insights webpage and Ciena website.

 

Note to Ciena Investors
You are encouraged to review the Investors section of our website, where we routinely post press releases, SEC filings, recent news, financial results, and other announcements. From time to time we exclusively post material information to this website along with other disclosure channels that we use. This press release contains certain forward-looking statements that are based on our current expectations, forecasts, information and assumptions. These statements involve inherent risks and uncertainties.  Actual results or outcomes may differ materially from those stated or implied, because of risks and uncertainties, including those detailed in our most recent annual and quarterly reports filed with the SEC. Forward-looking statements include statements regarding our  expectations, beliefs, intentions or strategies and can be identified by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will,” and “would” or similar words. Ciena assumes no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.

The Responsible AI Institute Appoints Matthew Martin as Global Advisor to Support Trusted and Scalable AI Adoption Across Industries | Total Telecom

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Texas, U.S., 10th June 2025 – The Responsible AI Institute (RAI Institute), a global and member-driven non-profit dedicated to enabling successful responsible AI efforts in organizations, has appointed Matthew Martin, founder and CEO of Two Candlesticks and an international leader in cybersecurity, as a member of its Global Advisory Board. Matthew’s extensive cybersecurity expertise will be leveraged to help organizations strengthen AI governance, enhance transparency, and scale innovation responsibly.

With over 25 years of experience in the cybersecurity industry, Matthew has led and implemented security operations at Fortune 100 financial services companies. As CEO of Two Candlesticks, he currently provides high-level cybersecurity consultancy, strategy, and frameworks to underserved markets and regions. He will apply this expertise to his role at the RAI Institute to build awareness for transparent AI practices and help organizations overcome critical technological, ethical, and regulatory challenges.

“AI has the power to truly transform the world. If done correctly, it democratizes a lot of capabilities that used to be reserved just for developed markets. This is exactly why industries need organizations like the RAI Institute,” said Matthew Martin, Global Advisor at RAI Institute and CEO of Two Candlesticks. “I’m proud to be a part of such a forward-thinking institute that’s leading the way in advancing responsible AI innovation across diverse markets. Its mission directly aligns with my passion for playing an active role in establishing a resilient, future-ready cybersecurity foundation for all.”

Through its global network of responsible AI experts, the RAI Institute offers valuable insights to practitioners, policymakers, and regulators. With over 34,000 members and collaborators, its community spans technology, finance, healthcare, academia, and government agencies. Its goal is to operationalize responsible AI through education, benchmarking, verification, and third-party risk assessments.

“We are so pleased to have Matthew on board as a Global Advisor for the RAI Institute. His drive for serving the underserved in cybersecurity makes him a perfect addition to the board as we advance responsible AI across the entire ecosystem,” said Manoj Saxena, Chairman and Founder of the Responsible AI Institute. “Trusted AI foundations lead to sustainable and scalable AI solutions. It’s through the expert contributions of industry leaders like Matthew that we can strengthen our mission to ensure a secure future for AI.”

In addition to his role at RAI Institute, Matthew holds advisory positions on the boards of Ironscales, Trustwise, Stealth, and Surge Ventures. Through his work at Two Candlesticks, he is making robust cybersecurity strategies accessible, efficient, and impactful across Africa, Asia, Europe, the Middle East, and the Americas.

 

 

About Responsible AI Institute (RAI Institute)

Founded in 2016, Responsible AI Institute (RAI Institute) is a global and member-driven non-profit dedicated to enabling successful responsible AI efforts in organizations. We accelerate and simplify responsible AI adoption by providing our members with AI conformity assessments, benchmarks and certifications that are closely aligned with global standards and emerging regulations.

Members include leading companies such as Amazon Web Services, Boston Consulting Group, KPMG, ATB Financial and many others dedicated to bringing responsible AI to all industry sectors.

www.responsible.ai

CityFibre moves to quell sales rumour | Total Telecom

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News

The fibre network operator insists that its growth plans remain on track, despite reports that the company’s backers are exploring a potential sale

CityFIbre are downplaying reports this week that suggested the company’s investors are in talks to sell the business to one of the company’s biggest rivals, Virgin Media O2 (VMO2).

Yesterday, a report from The Telegraph said that two of CityFibre’s major backers – Mubadala and Goldman Sachs – had been holding initial discussions with VMO2 surrounding a potential sale. Sources also suggested that CityFibre’s debt financiers, including NatWest, Société Générale, and Credit Agricole, were also taking part in separate discussions.

CityFibre has been facing mounting financial pressure over the last year. Initially aiming to cover up to 8 million homes with full fibre by the end of 2025, the company has pursued an aggressive – and expensive – fibre network rollout strategy. The company’s debt pile now sits at roughly £3.9 billion, with the company having previously noted that existing funding is set to run out in the middle of this year.

As a result, the network operator has been seeking to secure additional funding for the best part of nine months, reportedly seeking £500 million from existing investors and a further £1 billion from lenders. This funding, the company says, is crucial for its ongoing network rollout, as well as the company’s growing focus on M&A.

CityFibre notably acquired smaller altnet Lit Fibre last year and Connexin earlier this year, which added combined to add around 300,000 premises to CityFibre’s network. In total, CityFibre has roughly 4.3 million UK premises passed, leaving it far from its target.

The operator insists, however, that the funding it needs is still being arranged, saying that the rumours of potential sale discussions are unfounded.

“Any speculation about a potential sale is unfounded. CityFibre is in a strong position and we expect to announce details of our financing shortly, supporting our role in consolidating the sector and accelerating CityFibre’s next phase of growth,” said the company in a statement.

Join us at Connected Britain, 24-25 September in London. Tickets available here  

Also in the news:
SWR deploys Europe’s first ’Rail-5G’ Wi-Fi  
BT accelerates fibre rollout amid cost cuts
AT&T agrees $5.75 billion deal for Lumen’s consumer fibre assets