Monday, 20 November 2017

CityFibre to raise £200m to fund fibre footprint expansion

By Nick Wood, Total Telecom
Wednesday 05 July 17

U.K. altnet targets residential FTTH deployments in up to 10 locations next year; acquires rival wholesaler Entanet for £29 million.

CityFibre on Tuesday said it will raise up to £200 million by selling new shares in order to accelerate the expansion of its fibre networks. The U.K. altnet has also agreed to acquire rival wholesaler Entanet for £29 million in cash. CityFibre said in a statement that net proceeds from the share placement will go towards constructing residential fibre-to-the-home (FTTH) networks in five-to-10 locations in 2018. &quot…

CityFibre on Tuesday said it will raise up to £200 million by selling new shares in order to accelerate the expansion of its fibre networks. The U.K. altnet has also agreed to acquire rival wholesaler Entanet for £29 million in cash. CityFibre said in a statement that net proceeds from the share placement will go towards constructing residential fibre-to-the-home (FTTH) networks in five-to-10 locations in 2018. &quot…

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