Netomnia has secured an additional £25 million loan from the National Wealth Fund (NWF).
Fri, 28/07/2023 - 11:32
Infrastructure investor INPP has confirmed that an agreement is in place for the sale of its stake in Airband.
The deal is expected to close soon as the investor looks to repay c.£20 million of its Rolling Credit Facility before the end of July.
It was reported by Sky last month that the altnet had enlisted the help of AlixParnters and Houlihan Lokey to seek new funding.
The report stated that the struggling altnet has been working on a potential recapitalisation for several weeks and would require a substantial injection of capital.
The company is currently backed by Abrdn and secured £100m in November 2021.
