Mubadala Investment Company earmarks nearly $400m for CityFibre
Investors - MARCH 21, 2022

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

Mubadala Investment Company earmarks nearly $400m for CityFibre

by Kali Persall

Abu Dhabi sovereign wealth fund Mubadala Investment Company is planning a £300 million ($395 million) follow-on investment in CityFibre, one of the U.K.’s largest independent providers of full-fiber broadband infrastructure.

The investment is intended to help accelerate the roll out of CityFibre's network across the United Kingdom, and will also enable the company's participation in the Project Gigabit rural program, launched by Building Digital UK.

The new commitment builds on Mubadala’s initial £500 million ($659 million) investment that was made in 2021, according to ShareCast. CityFibre is engaged in a £4 billion ($5.3 billion) investment program to roll out full-fiber infrastructure to up to 8 million homes by 2025.

IREI understands the investment brings the total amount of equity raised by CityFibre in the last six months to more than £1.425 billion ($1.9 billion) representing Britain's largest capital raise for broadband infrastructure.

Forgot your username or password?