Member Info for freddie01

We have an Openreach van in our street which hardly moves. On the days it does it's only gone about 4hrs.

Great work if you can get it.

Cumulative losses among the altnets were £1.3 billion in 2023, according to an analysis of the companies’ most recently published accounts by Enders, the telecommunications consultancy, which does not expect an improvement in last year’s figures.

CityFibre, which is backed by Goldman Sachs and Abu Dhabi’s wealth fund, is the oldest of the altnet providers, having been set up in 2011.

A spokeswoman for CityFibre said the company’s shareholders were “actively engaged in supporting the company’s next phase of growth.

“CityFibre is in a strong position, having delivered a full year of profitability and with Sky about to launch across our full nationwide network. The financing will support our role in consolidating the sector and enable CityFibre to connect hundreds of thousands of new customers at pace, delivering significant revenue growth.”

The lenders, which include NatWest, Société Générale and Crédit Agricole, last month appointed Lazard to lead discussions. CityFibre has appointed Evercore as its adviser in the refinancing.

In its last set of fully audited accounts for 2023, the company said there was a “material uncertainty” over its ability to continue without further external funding. The company, which last raised debt in 2022, had £3.9 billion in debt and recorded a £285 million pre-tax loss in 2023.

The company said it had recorded adjusted earnings before interest, taxes and other items of £5 million for last year and had up to £500 million in cash available.

At the end of December, CityFibre, which is positioned as the largest altnet looking to take on BT and Virgin Media O2, had built out its fibre network to more than 4.3 million households, but had gained only 518,000 customers.

It is hoping to roll out its fibre network to eight million premises by the end of the decade, but plans to switch towards a strategy of consolidating smaller network providers through share-based deals, rather than the costlier build-out of its own network.

CityFibre seeks £1.5 billion as caution grows over ‘altnets’

The largest of the smaller broadband rivals to BT and Virgin Media O2 is struggling to secure vital financing to cover debts and expansion

One of the biggest challengers to BT’s Openreach is facing a delay in securing the £1.5 billion needed to sustain its operations, as lenders grow more cautious towards the wave of companies that sprung up in the race to roll out fibre broadband.

CityFibre, the UK’s largest alternative network provider, is in talks with lenders to unlock £1 billion in debt, in addition to a £500 million capital injection from shareholders, to help fund the rapid expansion of its network.

However, securing the debt financing is understood to be taking longer than anticipated as the amount of credit lenders willing to extend to the so-called “altnets” tightens.

Investors and banks have poured billions into the upstart brands in recent years but they have started to struggle under the weight of higher interest rates, increased costs and a failure to convince enough customers to switch, which has prevented them from building enough scale to generate sufficient returns.

CityFibre is thought to have begun courting investors and lenders in October, after signing a deal last summer to provide Sky’s six million customers with broadband from this year. Sky had previously only used the network provided by Openreach.

Https://12ft.io/proxy

I wouldn't be surprised if they delist.

Https://www.computerweekly.com/news/366620112/MWC-2025-Fabric-to-spread-as-BT-sees-no-business-plan-B-without-the-network

Justin Springham is joined by Allison Kirkby, CEO at MWC25 who reflects on her first year as CEO and discuss BT’s key objectives and growth opportunities for 2025.

https://www.mobileworldlive.com/bt/interview-bt-group/

The silence is deafening.

Any form of update would be nice. One must be due. Always a red flag for me when late.

1.51

Https://www.ispreview.co.uk/index.php/2025/01/bt-win-four-more-uk-project-gigabit-broadband-rollout-contracts-worth-289m.html

Https://newsroom.bt.com/bt-group-signs-major-new-contract-to-deliver-mobile-services-for-governments-emergency-services-network/

Https://www.salisburyjournal.co.uk/news/24751477.bt-seeks-consent-install-street-hub-outside-market-walk/

Https://x.com/GuidoFawkes/status/1857386247909466591/photo/1

https://x.com/LeoMars75/status/1857454219919298664/photo/1

Those that respond to it are just as much to blame.

Https://www.mobileworldlive.com/bt/bt-shake-up-could-lead-to-radianz-sale/

I use DuckDuckGo and suffer no adverts.

Thank you Trello. Much appreciated.

Has anybody got any idea of the profit RR. would make on each mini nuclear reactor?