- Liberty Global ( NASDAQ: LBTYA ) and Telefónica Infra, wholly owned subsidiary of Telefónica ( NYSE: TEF ), along-with InfraVia Capital Partners, independent financial investment firm specializing in infrastructure and technology investments, reached an agreement to set up a new JV that will roll out fibre-to-the-home to greenfield premises across the country.
- This investment of ~£4.5B will provide a boost to digital economy and contribute to gigabit broadband ambitions.
- The partnership will initially roll out fibre to 5M homes not currently served by Virgin Media O2's network by 2026, with the opportunity to expand to an additional c.2M homes.
- Liberty Global and Telefónica will jointly hold a 50% stake in the JV through a holding company, with InfraVia owning the remaining 50%.
- Under the transaction, InfraVia will make certain payments to Liberty Global and Telefónica, a portion of which will be linked to the progression of the network build-out.
- Transaction is expected to close in Q4.
- TEF shares trading 1.4% higher premarket.
For further details see:
Liberty Global, Telefónica and InfraVia Capital Partners form JV for building new fibre network in U.K.