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The new financing comprises 80 million of new equity and 100 million in debt facilities. Both
the financing and acquisition transactions are scheduled to complete in mid-January, making
CityFibre the UKs 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.
The acquisition of KCOMs national communications infrastructure (excluding Hull and East
Yorkshire) will extend CityFibres 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 network that connects these cities to major data-centres
across the UK and to internet peering points in London.
CityFibre will accelerate commercialisation of its wholesale fibre networks through its growing
portfolio of service provider partners, including KCOM which will now have access to CityFibres
full national footprint. The expanded network footprint will enable CityFibre to deliver end-to-end
wholesale dark fibre connectivity to national and regional service providers, data centres and
mobile operators in search of a genuine alternative to connectivity solutions offered by BT
Wholesale and BT Openreach.
The acquisition builds upon CityFibres successes, including its rollout of Gigabit Cities, the UKs
first deployment of Fibre-to-the-Tower (FTTT) with EE and Three UK, the Fibre-to-the-Home
(FTTH) deployment in York with Sky and TalkTalk and a master services agreement with
Vodafone. Now, meaningful scale can be offered to partners that will transform the UKs
connectivity landscape.
Commenting on the announcement, CityFibre CEO Greg Mesch said: This is the most
significant event to take place in the UKs digital infrastructure market in a decade. The UK now
has a secure independent infrastructure alternative. Cities, service providers, mobile operators
and investors have boldly embraced a new model of future-proof infrastructure provision and
paved the way for its acceleration across the country.
With our 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.
-ENDS-