CityFibre looking to offload ‘substantial minority stake’ to new investor

9 Mar 2021

UK-based CityFibre Holdings has appointed investment banks UBS and Rothschild to identify a new investor to support its GBP4 billion (USD5.5 billion) investment programme. According to Sky News, which cites industry sources, CityFibre is poised to sell a ‘substantial minority stake’, which is likely to be worth ‘many hundreds of millions of pounds’.

In response to the report, the company – which is currently controlled by Goldman Sachs-backed West Street Infrastructure Fund and Antin Infrastructure Fund – has issued the following statement: ‘We can confirm that we’re exploring a possible expansion of our shareholder base to support the acceleration of our build and possible participation in the BDUK (Building Digital UK) rural programme.’

CityFibre, which has positioned itself as ‘the UK’s largest alternative provider of wholesale fibre network infrastructure’, currently has network projects in more than 60 cities and construction underway to reach up to eight million homes.

United Kingdom, CityFibre (incl. FibreNation)