CityFibre And Vodafone To Extend FTTP Rollout as CityFibre Changes Hands

Created April 24, 2018
News and Business

Vodafone and UK-based wholesale carrier CityFibre have revealed plans to roll out Gigabit FTTP networks in four cities on top of those they have already announced. The full list includes Coventry, Edinburgh, Huddersfield and Stirling, all of which are next in line for a full fibre infrastructure programme along with Milton Keynes, Peterborough and Edinburgh. This brings the total number of homes and businesses identified to date to over half a million premises across seven cities and brings CityFibre’s committed infrastructure investment in the project to at least GBP 315 million.

Vodafone will use CityFibre’s network to carry its service and detailed city-wide planning is already underway. CityFibre, which will build, own and operate the networks, is working closely with each local authority to co-ordinate the build and maximise the benefits of FTTP to each city. Currently operating wholesale full fibre infrastructure serving schools, council sites and businesses in each of the new project cities, CityFibre’s spine networks provide a platform to accelerate FTTP deployment to nearly every home and business. Construction work has already started in Milton Keynes just five months after Vodafone and CityFibre first announced their strategic partnership, with construction is set to begin in subsequent cities in the coming months.

Greg Mesch, Chief Executive at CityFibre, said: “Behind each city project announced today, lie concrete plans, advanced network designs, and the resources to mobilise construction. We also have a significant head-start, harnessing our existing, extensive duct infrastructure that is tailor-made for city-wide FTTP expansion. Our commitment, in partnership with Vodafone, is to totally transform each city in which we roll-out by bringing ubiquitous full fibre to everyone and we are well on our way.”

The same day that the rollout was announced, CityFibre said it had accepted an offer that values the company at around GBP 537.8 million in cash. The bid was made by Bidco, a newly incorporated 50:50 consortium made up from Antin and WSIP. CityFibre said the deal represents a premium of almost 93% on the closing price of GBP 0.42 per share on 23 April 2018, the last day before the bid announcement.

The bid will now have to be approved by 75% of shareholders. The company’s directors said they will unanimously recommend the deal and some shareholders have already said they will approve the scheme. In all, this means Bidco already has the preliminary approval of 67.82% of shares. The deal is subject to the usual conditions and terms, including anti-trust clearances from authorities in China and the European Union.

For more information, visit www.cityfibre.com

 

 

 

cityfibre-vodafone-extend-fttp-rollout-cityfibre-changes-hands

This article was written
by Peter Dykes

Peter Dykes is a independent telecoms and technology journalist who has over that last 30 years written for a wide range of B2B publications and companies. A former BT engineer, he specialises in networks and associated support systems. He is currently Editor of Optical Connections.