Thursday, 24 May 2018

CityFibre receives £538 million takeover bid

By Chris Kelly, Total Telecom
Tuesday 24 April 18

CityFibre is one of the UK's biggest players in the rollout of full fibre, gigabit capable broadband networks

UK full fibre broadband specialists CityFibre has been the subject of a £538 million acquisition bid from an international consortium. The consortium, which is comprised of Antin and West Street Infrastructure Partners…

UK full fibre broadband specialists CityFibre has been the subject of a £538 million acquisition bid from an international consortium.

The consortium, which is comprised of Antin and West Street Infrastructure Partners, will pay 81 pence per share to acquire CityFibre – a 93 per cent premium on the value of the shares.

The bid will now need to be approved by a 75 per cent majority of CityFibre's share holders. The company's board of directors has already said that it will recommend that its shareholders accept the offer.

CityFibre is a key player in the UK's full fibre broadband sector. In conjunction with Vodafone it is currently involved in a massive rollout programme of FTTH services to over a million customers in 12 cities around the UK.

Vodafone and CityFibre have recently announced that Coventry, Edinburgh, Huddersfield and Stirling will be the next UK cities to be targeted by the initiative.

The acquisition of CityFibre is contingent upon regulatory approval from key regulators in China and the EU.

CityFibre will be discussing strategies for rolling out gigabit connectivity throughout the UK at the Connected Britain event. Click here for a full agenda and to find out how you can be a part of the conversation.

 

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