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LONDON, Sept 16 (Reuters) - British fibre broadband company
CityFibre said on Thursday it had raised 1.125 billion pounds
($1.55 billion) to support the rollout of its network, including
equity from new investors Mubadala Investment Co and Interogo
Holding.
The company, which is challenging BT in the race to
build fibre, said the funds comprised 825 million pounds of
equity and a 300 million increase in its banking facilities.
It said Abu Dhabi sovereign fund Mubadala Investment Company
and Interogo Holding, a foundation-owned investment group, would
join existing investors Antin Infrastructure Partners and
Goldman Sachs, as minority shareholders as a result.
CityFibre Chief Executive Greg Mesch said the funds would
not only underpin its rollout to up to 8 million homes across
285 cities, towns and villages, but would also enable it to
participate in the government's "Project Gigabit" programme to
extend its network to rural areas.
($1 = 0.7239 pounds)
(Reporting by Paul Sandle; Editing by Kate Holton)
