VM02 mulls CityFibre bid
March 20, 2023
By Colin Mann
UK multiplay operator Virgin Media O2 (VMO2) is reported to be considering a £3 billion (€3.4bn) takeover bid for full fibre altnet CityFibre.
Mike Fries, chief executive of VMO2 parent company Liberty Global, is said to have held initial talks with Greg Mesch, Chief Executive Officer at CityFibre.
By 2025 CityFibre’s rollout is set to reach 8 million homes, 800,000 businesses, 400,000 public sector sites and 250,000 5G mobile sites. It reached the 2 million home milestone in September 2022, cementing its position as the second largest full fibre provider in the UK.
VMO2 Is believed to working with bankers at US-based LionTree, according to the Daily Telegraph.
CityFibre is based in London and is owned by Antin Infrastructure Partners, Goldman Sachs Asset Management, Mubadala Investment Company and Interogo Holding.