CityFibre eyeing FibreNation?

29 Aug 2019

British pure fibre provider CityFibre has reportedly tabled a bid for TalkTalk’s FibreNation subsidiary, according to Sky News. It is understood that CityFibre is one of a ‘small number’ of bidders currently battling to take control of wholesale provider FibreNation, with the report citing unnamed industry sources as saying that competition to partner TalkTalk in the rollout of FibreNation had intensified in recent weeks. According to the rumours, a number of interested parties – including other infrastructure funds – remain in discussion with TalkTalk and its advisers at the investment bank Lazard regarding an outlay in FibreNation. One insider claimed that CityFibre had proposed to TalkTalk that it acquire 100% of FibreNation in return for a cash payment and TalkTalk signing an agreement to be a customer of the business. The terms of CityFibre’s proposal have yet to be officially confirmed, however, with both CityFibre and TalkTalk having declined to comment on the matter.

United Kingdom, CityFibre, FibreNation, TalkTalk (incl. FibreNation)