Published in Network

TalkTalk flogs Fibre network

by on21 January 2020

That will be 200 million to keep CityFibre regular 

British broadband supplier TalkTalk has flogged its fibre network to Goldman Sachs-backed CityFibre for 200 million pounds ($260 million).

TalkTalk said it had agreed a wholesale agreement with CityFibre for its residential and business customers in the areas in which it builds networks, a deal that  would help underpin the fibre network operator’s expansion.

TalkTalk started laying its own fibre optic cables in a trial, initially with broadband rival Sky, to challenge BT which was a little too slow building its own fibre-to-the-premises networks.

It created a new company called FibreNation in 2018, which had ambitions to build a network serving three million premises.

The sale of FibreNation to CityFibre was delayed late last year when the opposition Labour Party pledged to nationalize BT’s Openreach network if it won a December election, a move that would have upended the broadband market. The threat was removed with a decisive victory by Boris Johnson’s Conservatives who have no interest in providing such a service.

TalkTalk Chief Executive Tristia Harrison said the deal was good for TalkTalk and for Britain and its full-fibre ambition.

“The sale of FibreNation to CityFibre, in combination with a competitive wholesale agreement, enables us to continue our strategy to accelerate TalkTalk’s fibre growth for our residential and business customers, thereby delivering a superior customer experience at an affordable price”, she said.

Last modified on 21 January 2020
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