CityFibre unveils £2.5bn fund to boost FTTH in the UK

News

UK fixed line player CityFibre is launching a £2.5 billion plan to introduce FTTH to 37 towns and cities.

The plan is the equivalent of bring gigabit speeds to at least five million households across the country. The UK government has set a target of 15 million homes having access to FTTH by 2025.

CityFibre said it would offer an open-access platform for around a fifth of the UK's consumer market to internet service providers and mobile network operators.

Vodafone signed up to work with the fixed line provider late last year and recently started trialling fibre in 50 homes in the city of Milton Keynes.

FTTH builds are currently underway in two other cities, with construction set to begin in another seven during the coming months.

Greg Mesch, CEO of CityFibre said: “With a head-start in 37 towns and cities, this full fibre investment plan enables us to further accelerate our rollout, catalysing huge economic growth in regional towns and cities across the country and transforming the UK’s digital future.

“Our rollout will soon bring to scale an innovative wholesale network, providing internet service providers and mobile network operators with greater choice and unrivalled technical capabilities, benefitting all sectors of the market.

“We now need to work together across Government, [UK regulator] Ofcom and industry to create a level-playing field that continues to encourage investment from multiple network operators, so that full fibre can be delivered as quickly and effectively as possible.”

The investment follows CityFibre being taken over by a Goldman Sachs-owned investment fund earlier this year.