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Brightspeed secures USD500m investment from Mubadala

3 May 2023

Abu Dhabi sovereign investor Mubadala Investment Company has agreed to invest USD500 million in US ISP Brightspeed. With this investment, Mubadala will become a minority shareholder alongside investment funds managed by affiliates of Apollo Global Management. Brightspeed was created in October 2022 when Lumen Technologies sold its incumbent local exchange carrier (ILEC) business in 20 states to Apollo-backed funds for USD7.5 billion.

Headquartered in Charlotte, North Carolina, Brightspeed’s networks pass 6.5 million homes and businesses in rural and suburban communities across the US Midwest, Southeast and parts of Pennsylvania and New Jersey. The telco launched its new fibre-to-the-home (FTTH) network in March 2023 and expects to pass three million homes and businesses with fibre in the next five years.

United States, Brightspeed

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