Nexfibre and Virgin Media O2 to Acquire Upp, Boosting Fibre Infrastructure in East of England

UK fibre infrastructure company nexfibre, in collaboration with Virgin Media O2, has announced a deal to acquire fibre operator Upp in a move to bolster fibre infrastructure in the East of England. The acquisition is set to enhance nexfibre’s network by 175,000 premises in the region and ensure a sustained investment in its expansion.

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Partnership Details

Nexfibre, a UK fibre builder jointly owned by Liberty Global, Telefonica, and InfraVia Capital Partners, has partnered with Virgin Media O2 to acquire UK fibre operator, Upp. According to the statement, under the all-cash agreement, Virgin Media O2 will initially purchase Upp and carry out integration work, while nexfibre will fund the acquisition through a back-to-back agreement.

Fibre Footprint Expansion

The acquisition is expected to boost nexfibre’s fibre footprint by approximately 175,000 premises in the East of England. According to the statement, this will enhance the regional fibre network and ensure continued investment and network expansion in the area. The acquired network has minimal overlap with the existing Virgin Media O2 footprint, making it a valuable addition to nexfibre’s assets.

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Gigabit Connectivity

Virgin Media O2 plans to extend its gigabit connectivity services to more homes in the region through its access to the nexfibre network. Over the next 12 months, Virgin Media O2 will complete Upp’s ongoing network build, integrate Upp’s fibre network and systems, and offer Upp customers a range of Virgin Media O2 services. The completion of the acquisition of network assets by Nexfibre is expected within the next year as the second stage of the transaction.