CityFibre plans Gigabit network expansion in 20 UK towns and cities

11 Jun 2014

Pure fibre infrastructure provider CityFibre is looking to raise GBP30 million (USD50.4 million) to fund its build-out of 1Gbps networks in a further 20 towns and cities across the United Kingdom by the end of 2016. The firm, which recently raised GBP16.5 million via an initial public offering (IPO), is looking to cover a million more homes and businesses as part of its ‘Gigabit Cities’ programme by that date. It already operates in York and Peterborough and last week announced the acquisition of a 140km metro fibre network in Coventry as part of a strategic partnership with the city’s council.

Commenting on the latest expansion plan, CityFibre CEO Greg Mesch said: ‘We are delighted to have a strong capital base behind us and we can now put our foot firmly on the pedal in our rollout of Gigabit Cities,’ adding ‘all the evidence points to the social and economic advantages enjoyed by cities with a future-proofed digital infrastructure and we welcome the increased interest from cities and their service providers in our shared fibre infrastructure solution.’

United Kingdom, CityFibre (incl. FibreNation)