News broken by City A.M. suggests that Goldman Sachs backed CityFibre is set to purchase fibre arm of TalkTalk, Fibre Nation. According to the report the deal was due to go ahead last year but was put on hold after Jeremy Corbyn announced his plans to nationalise Openreach should he win the election.
Following a strong win for the Conservatives the plans appear to be back on the table. TalkTalk was apparently talking to several suitors over the summer but the spotlight has fallen on CityFibre as the most likely candidate.
Fibrenation had planned to build fibre connections to 3 million homes and businesses across the UK. CityFibre has been cultivating a landmark deal with Vodafone which will see full-fibre broadband in 1 million homes and business by 2021, and aims for 5 million by 2025. This deal would see CityFibre on track to exceed this target.
Comms Business reported on the future of the fibre market in a recent episode of Comms Business Live titled ‘Is Digital Britain hanging in the balance?’. You can view that below.
Latest posts by David Dungay (see all)
- Avaya considering $5 billion buy out - March 27, 2019
- Mitel Appoints Graham Bevington as EVP and Chief Sales Officer - April 10, 2015
- Exertis is the New Name for Micro-P - October 24, 2013