LONDON (Reuters) -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
CityFibre Secures $3 Billion Funding for Network Expansion and Acquisitions
LONDON (Reuters) -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.
($1 = 0.7430 pounds)
(Reporting by Paul Sandle; editing by Sarah Young)
