Zzoomm has appointed Acuity Advisors to explore potential M&A targets, according to a report from Sky News.
Wed, 6/09/2023 - 10:07
nexfibre will acquire Upp following initial integration work by Virgin Media O2. The acquisition will add 175,000 premises to nexfibre’s footprint in the east of England where it plans to invest more than £350m by 2026.
Over the next 12 months VMO2 will complete Upp’s build currently in progress; integrating its fibre network and systems. Upp’s 4000 retail and business customers will be offered a range of VMO2 services.
nexfibre will then acquire the network assets with this second stage transaction expected to complete within the next year.
Andrea Salvato, Chairman of nexfibre, said: “Our acquisition of Upp’s network assets represents an important step and will accelerate our rollout in the east of England.”
Lutz Schüler, CEO of Virgin Media O2, added: “Virgin Media O2 and nexfibre have a clear strategy in place to be the biggest fibre challenger in the country.”
ENDS
