CityFibre plans $3.25 billion investment

CityFibre, a UK-based broadband operator, will make an investment of 2.5 billion pounds or $3.25 billion on rolling out fiber networks in 37 towns and cities – targeting 5 million homes.
CityFiber broadband investment UKThe company, which was bought by Goldman Sachs West Street Infrastructure Partners and private equity firm Antin for $750 million earlier this year, is taking on national provider BT,  Reuters reported.

CityFibre said its networks, which offer gigabit speeds, would help deliver one third of the government’s 2025 target of 15 million homes.

“Our roll out will soon bring to scale an innovative wholesale network, providing internet service providers and mobile network operators with greater choice and unrivalled technical capabilities, benefiting all sectors of the market,” CityFibre CEO Greg Mesch said.

The company signed a partnership deal last year with Vodafone to market its networks in 10 cities, including Edinburgh, Coventry and Leeds.

CityFibre said on Wednesday that it had identified another 27 towns and cities, including Bristol, Glasgow and Manchester, where it would roll out full-fiber connectivity.