MATTHEW PEACH
Bristol as UK’s
cityfibre and triangle intend to connect at least 100 new business customers on the gigabit network by the end of 2016
enlarged footprint and strong pipeline of cities demanding better infrastructure, we will continue to grow, offering existing and new partners an ever increasing opportunity to capitalise on a pure fibre future.” CityFibre is also in joint venture with communications and broadcast services providers TalkTalk and Sky. Established in early 2014, this collaboration “aims to prove the viability of gigabit speed fibre networks and services for the home and business.” CityFibre is headquartered in London, and its shares trade on the AIM Market of the London Stock Exchange.
assets, which we have already begun to do with our first new service provider relationship on the acquired Bristol network.” The acquisition of KCOM’s national communications infrastructure has extended CityFibre’s UK footprint by more than 300 per cent. The physical infrastructure assets comprise 1,100 km of duct and fibre network in 24 UK cities, as well as 1,100 km of national long-distance networking that connects these cities to major data centres across the UK and to internet peering points in London. Mesch concluded, “With our
alternative investment for well over a decade. By combining the unique and highly attractive KCOM network assets with our own, we are well-positioned to tap into future growth in the rapidly evolving UK fibre market. “With a significant presence in 36 cities, 21 of which are completely new markets for us, we are now established as a credible alternative to BT Openreach, and the largest independent provider of wholesale fibre infrastructure on a national basis. Moreover, the £180 million funding package we have closed equips us to push hard on commercialising the acquired
The new financing comprises £80 million of new equity and £100 million in debt facilities. Both the financing and acquisition transactions were completed in mid-January, making CityFibre the UK’s largest wholesale infrastructure provider after BT and the first challenger to the national incumbent, nearly 10 years to the day since the formation of BT Openreach. On the completion of the financing and KCOM acquisition, Greg Mesch, Chief Executive of CityFibre, commented in mid-January: “This is a momentous day for UK broadband infrastructure, which has seen no meaningful
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