UK's full-fibre network provider Nexfibre today announced that it will invest GBP 1 billion in broadband infrastructure this year as part of its long-term plans on a national scale. Nexfibre said this investment will provide a major boost to the UK's digital infrastructure in its gigabit broadband plans. In an official release Friday, Nexfibre said this investment will support the delivery of Nexfibre's overall plan to reach 5 million premises by 2026.
Also Read: Nexfibre Announces Planned Build Locations Across UK for 2024
Partnerships and Growth Plans
Nexfibre is a joint venture between InfraVia Capital Partners, Liberty Global, and Telefonica, with GBP 4.5 billion in agreed financing. Furthermore, Nexfibre also has an exclusive partnership with Virgin Media O2, the second-largest retail ISP in the UK.
Being a wholesale-only provider, Nexfibre will focus entirely on building and maintaining a full-fibre infrastructure platform for all ISPs and businesses, and this GBP 1 billion investment in 2024 is part of Nexfibre’s organic build plan, which can be accelerated or complemented with strategic acquisitions, said the company.
Rajiv Datta, CEO of Nexfibre, said, "Outside of the incumbent, Nexfibre is set to build more than any other fibre network provider in the UK this year, becoming the second-largest competitive network in just its second year of operation."
"Our focus is on addressing the historical lack of investment that has left the UK lagging behind its European counterparts, and providing a platform for progress and innovation to deliver lasting value to the communities we serve, and the wider economy," Datta added.
Also Read: Nexfibre and Virgin Media O2 to Acquire Upp, Boosting Fibre Infrastructure in East of England
Bridging the Digital Divide
Andrea Salvato, chairman of Nexfibre, said, "Our in-year investment of GBP 1 billion represents an important step as we continue to build a world-class network, which will reach more than 5 million homes across the UK by 2026. At Nexfibre, we are committed to bringing full-fibre connectivity to previously underserved suburban and semi-rural areas, playing our part in helping to close the digital divide and boost local economies."
Nexfibre noted that it is the only fiber provider of scale that uses 10 Gbps XGS-PON technology. The company plans to initially roll out fiber to 5 million homes not currently served by Virgin Media O2's network by 2026, with plans to expand to an additional 2 million homes.
