The owners of CityFibre Holdings, the telecoms infrastructure company, are to raise hundreds of millions of pounds from the sale of a stake to a new shareholder to aid their delivery of a £4bn investment programme. Sky News has learnt that CityFibre has appointed the investment banks UBS and Rothschild to identify a third investor to join Goldman Sachs-backed West Street Infrastructure Fund, and Antin Infrastructure Fund. The process, which is expected to take several months, will formally get under way this week, according to industry sources. Insiders said CityFibre was likely to sell a substantial minority stake, which would enable it to receive a capital injection potentially worth many hundreds of millions of pounds. In a statement on Monday, a CityFibre spokesman said: “We can confirm that we’re exploring a possible expansion of our shareholder base to support the acceleration of our build and possible participation in the BDUK [Building Digital UK] rural programme.” Advertisement CityFibre, which last year bought the infrastructure arm of TalkTalk , has pledged to invest up to £4bn to deploy a full-fibre network that would reach up to eight million premises by 2025. Such a programme would make the company the largest independent full-fibre… Read full this story
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