CityFibre Secures £2.3B Funding for UK Fibre Network Expansion

CityFibre has obtained £2.3B in new funding to enhance its full-fiber network, propel M&A operations, solidify its position as Openreach’s primary competitor, and lead the consolidation of the UK altnet market. The substantial investment includes £500m in fresh equity, £960m in expanded debt, and an £800m facility earmarked for M&A activities. With a focus on connecting more residences, CityFibre is expected to impact the national economy positively and advance digital infrastructure ambitions in the UK. Backed by shareholders like Goldman Sachs and Mubadala, CityFibre aims to revolutionize the fiber connectivity landscape, targeting underserved areas and reaffirming its commitment to expanding critical UK infrastructure.