FibreNation sold for £200m to CityFibre Holdings
TalkTalk has announced this morning that is to sell the Group's FibreNation assets to City Fibre Holdings for £200 million. City Fibre Holdings is the third largest Network builder in the UK and is privately owned by a consortium of Goldman Sachs and Antin Infrastructure Partners.
It will establish FibreNation as a Northern Centre of Excellence and help to deliver a new generation of digital infrastructure. TalkTalk will also play a crucial role in the rollout of Fibre To The Premises (FTTP) across the UK because the agreement also includes a very competitive and long term wholesale agreement with City Fibre Holdings in the areas where they build.
The team at City Fibre Holdings (and indeed Goldman Sachs and Antin) have been deeply impressed by the innovation, creativity and determination of our FibreNation colleagues. They have committed that all employees will move across to the new team and will enable FibreNation to continue its work in Yorkshire and across the North of England. Today's sale simply accelerates the work the team already have underway. Neil McArthur will be briefing all our FibreNation colleagues in York and Irlam today.
This agreement has only been possible thanks to the brilliance, determination and engineering skills of the FibreNation team and it is to be made very clear that all those jobs are secure and not impacted by this sale.
FibreNation is committed to its existing relationships and locations.