Liberty Global, Telefonica, InfraVia Capital to Deploy Fiber in UK for $5.48 Billion
July 29 2022 - 6:41AM
Dow Jones News
By Mauro Orru
Liberty Global PLC, Telefonica SA and InfraVia Capital Partners
have agreed to deploy fiber infrastructure for millions of homes
across the U.K. with an investment of roughly 4.5 billion pounds
($5.48 billion).
The companies said in a joint statement Friday that they have
agreed to form a joint venture to initially roll out fiber to 5
million homes not currently served by Virgin Media O2's network.
The deal also paves the way to add 2 million homes at a later
stage.
The joint venture secured GBP3.3 billion in debt financing from
a consortium of banks, including a GBP3.1 billion capital expense
facility.
Liberty Global and Telefonica will retain a combined 50% stake
in the venture through a holding company, while InfraVia will hold
the remaining 50%.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
July 29, 2022 06:26 ET (10:26 GMT)
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