LONDON: British fibre broadband network CityFibre said on Monday it had agreed 2.26 billion pounds ($3.04 billion) of finance from its shareholders and existing lenders to fund network investment and acquire smaller rivals.
Shareholders Infrastructure at Goldman Sachs Alternatives , Antin Infrastructure Partners, Mubadala Investment Company and Interogo Holding would provide 500 million pounds in new equity, it said, alongside a 960 million pound expansion of its existing debt facilities.
It said it had also agreed a further 800 million pound loan facility to fund acquisitions as it drives consolidation.
CityFibre, which operates Britain’s third largest broadband network after BT and Virgin Media O2 , said the new financing would “supercharge” its next phase of growth.
