Posted on June 22, 2018 by staff

£537m CityFibre takeover finalised


CityFibre has delisted from the London Stock Exchange following the completion of a £537 million takeover.

Connect Infrastructure Bidco, a consortium backed by Goldman Sachs, agreed the deal in April and it has gone through today.

The alternative broadband infrastructure builder has projects across 51 towns and cities in the UK.

“Having shaken up the UK telecoms market over the last five years and sparked the race to deliver a full fibre future for Britain, this transaction will enable CityFibre to accelerate our deployment of transformational digital infrastructure still further,” said Greg Mesch, chief executive of CityFibre.

“These are exciting times, and as the only builder of scale, CityFibre is ideally positioned to make the most of this opportunity to modernise the UK’s digital infrastructure.

“I would like to take this opportunity to thank the shareholders who have supported us since our initial listing on AIM.

“We have raised over £320m on AIM and believe that without the support of the capital markets, our progress both operationally and strategically would not have been so rapid.”

CityFibre is one of the key companies leading the Government’s plan to transform the digital infrastructure in towns and cities nationwide and unlock billions in long-term economic reward for the UK’s digital economy.