TIDMCITY
RNS Number : 3595Q
CityFibre Infrastructure Hldgs PLC
29 November 2016
For immediate release 29 November 2016
CITYFIBRE INFRASTRUCTURE HOLDINGS PLC
('CityFibre' or the 'Group' or the 'Company')
Business Parks Initiative
Dense full-fibre networks will deliver growth in the UK's
digital economy by empowering SMEs in business parks across
CityFibre's 40 city footprint
CityFibre (AIM: CITY), a leading designer, builder, owner, and
operator of fibre optic infrastructure in UK towns and cities, is
pleased to announce that it has begun a roll-out of dense
full-fibre networks in business parks across its 40 city UK
footprint to reach more than 500 business parks. Over 22,000 SMEs
will benefit from low-cost access to world-class, gigabit-speed
internet services delivered over the new infrastructure in or near
CityFibre's existing networks. The first parks targeted for upgrade
are in the Company's Gigabit City projects Coventry, Bristol and
Peterborough.
The full-fibre networks will be made available to Internet
Service Providers (ISPs) and resellers on a wholesale basis,
enabling CityFibre's partners to market a new generation of
affordable, ultra-fast internet services. These will provide a
major digital advantage to local businesses, dramatically
increasing their productivity. An entry level, ultra-fast,
symmetrical service will be available at an expected retail price
of GBP120 per month.
CityFibre has already proven the demand for full-fibre
connectivity in business parks in several of its Gigabit City
projects. Pre-registration rates of over 60% have been recorded in
many of the business parks surveyed on the current footprint.
CityFibre will leverage its learnings of local market engagement,
demand aggregation and product pricing to accelerate penetration
rates.
The announcement marks a major new phase in the growing
competition that CityFibre is providing to BT Openreach across the
UK. CityFibre's aim is to expand to 100 cities by 2025, which would
equate to fibre access for 60% of the UK's businesses and 40% of
the UK's homes outside of London. The roll-outs will also serve as
a full-fibre backbone to support the economic development of key
development areas such as the Northern Powerhouse and Midlands
Engine.
Greg Mesch, Chief Executive of CityFibre, commented:
"After decades of underinvestment, Openreach's antiquated
network infrastructure is strangling our nation's businesses. It is
up to CityFibre to provide them with a viable and fit for purpose
alternative, delivering a new generation of connectivity for our
SMEs, the lifeblood of the UK economy.
"Access to full-fibre connectivity is the only long term
solution, and this is currently either unavailable or so
cost-prohibitive that it has remained out of reach for most. By
extending our Fibre to the Premises roll-out to business parks
across our national network, we are bringing affordable,
world-class connectivity to the doorsteps of thousands of
businesses for the first time. This is preparing our cities for an
inevitable future upgrade to Fibre to the Home."
Minister of State for Digital and Culture Matt Hancock said:
"In last week's Autumn Statement we committed to investing
another GBP1billion in the UK's digital infrastructure and to
support the delivery of full-fibre broadband.
"Fibre is the future, so today's announcement by CityFibre is
another boost to help achieve our ambitious goals. It will give
small businesses across the country access to fast and reliable
broadband and encourage other emerging providers to scale up so we
remain a world-leading economy."
Notes to editors:
Below are independent statistics proving the need for
competitive infrastructure and ultra-fast internet services for
SMEs and business parks:
-- 94% of small business owners consider a reliable internet
connection critical to the success of their business.(1)
-- Approximately 45,000 small businesses (1% of Britain's 4.5
million small businesses) still have to rely on a dial-up
connection.(1)
-- 25% of small firms say they are fairly or very dissatisfied
with their broadband provision.(1)
-- 40% of small businesses said improved digital infrastructure
in their area would encourage them to invest in new
technology.(1)
-- 50% of SMEs (around 130,000) in certain business areas are
unable to receive speeds above 10Mbps (2)
-- Estimated that as of August 2015, 46% of premises in SME only
postcodes had broadband connections with a maximum speeds of less
than 10Mbps, 24% has maximum speeds of less than 5Mbps and 12% had
maximum speeds of less than 2Mbps. (2)
-- 18% of SMEs are still unlikely to have access to superfast broadband beyond 2017. (2)
(1) Federation of Small Businesses report - The Fourth Utility:
Delivering universal broadband connectivity for small businesses
across the UK
(2) Ofcom's Connected Nations Report
For further information, please contact:
CityFibre Infrastructure Holdings www.cityfibre.com
plc
Greg Mesch, Chief Executive Officer Tel: 0845 293
0774
Terry Hart, Chief Financial Officer
James Enck, Head of Investor Relations Tel: 0333 150
6283
finnCap (Nomad and Joint Broker) www.finncap.com
Stuart Andrews / Christopher Raggett Tel: 020 7220
(Corporate Finance) 0500
Simon Johnson (Corporate Broking)
Liberum (Joint Broker) www.liberum.com
Steve Pearce / Steven Tredget / Tel: 020 3100
Richard Bootle 2000
Vigo Communications www.vigocomms.com
Jeremy Garcia / Fiona Henson Tel: 020 7830
9700
About CityFibre:
CityFibre is the national builder of Gigabit Cities, as the UK's
largest alternative provider of wholesale fibre network
infrastructure. It has major metro duct and fibre footprints in 40
cities across the UK and a national long distance network that
connects these cities to major data-centres across the UK and to
key peering points in London.
The company has an extensive customer base spanning service
integrators, enterprise and consumer service providers and mobile
operators. Providing a portfolio of active and dark fibre services,
CityFibre's networks address 28,000 public sites, 7,800 mobile
masts, 280,000 businesses and 4 million homes.
CityFibre is based in London, United Kingdom, and its shares
trade on the AIM Market of the London Stock Exchange (AIM: CITY).
Further information on the company can be found at
www.cityfibre.com
This information is provided by RNS
The company news service from the London Stock Exchange
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