A new 10-year strategy that “sits at the heart of plans to renew the UK” has been published by the government and will include proposals that are backed by £725bn in long-term funding for maintenance and major projects, which promises to “transform how infrastructure projects are planned and delivered”.
Tue, 22/03/2022 - 13:33
CityFibre’s recent financing round has risen to over £1.4bn following a further £300m equity investment from Mubadala Investment Company.
Under the infrastructure vertical of the UAE–UK Sovereign Investment Partnership, the new equity commitment builds on Mubadala’s initial £500m investment into CityFibre in September 2021.
This investment will support CityFibre’s accelerated growth plans and enable participation in Building Digital UK’s (BDUK) ‘Project Gigabit’ rural programme.
In the last six months, CityFibre has raised a total of £1.425bn from Mubadala, Interogo Holding, Antin Infrastructure Partners and the Infrastructure business within Goldman Sachs Asset Management. This is the largest ever financing for UK full fibre deployment.
Greg Mesch, CEO at CityFibre, said: “The need and appetite for carrier-neutral wholesale network competition at scale is clear, and CityFibre continues to demonstrate the benefits as a driver of wider investment, improved services and better value.
“With Mubadala’s continued support, we are well funded to deliver the UK’s finest Full Fibre network and help to level-up the UK.”
