By Najat Kantouar
Telefonica said it has agreed, together with Liberty Global and InfraVia Capital Partners, to acquire, U.K. fiber alternative network Netomnia for 2.0 billion pounds ($2.71 billion), through their fiber-to-home joint venture, Nexfibre.
The Spanish telecommunication company said Wednesday that it and Liberty Global will jointly contribute 150 million pounds to fund the transaction, while InfraVia will invest 850 million pounds.
The acquisition will expand Nexfibre's footprint to approximately eight million premises by the end of 2027.
As part of the deal, Virgin Media O2 will take over Netomnia's retail customer base and its 'YouFibre'and 'Brsk' brands, sign an extended wholesale agreement with Nexfibre, receive cash linked to that commitment, and secure a 30% stake in the holding company through which Telefonica's subsidiary Infra and Liberty Global currently invest in Nexfibre.
Upon completion, Infra, Liberty Global and Virgin Mobile O2 will together hold 50% of Nexfibre, and InfraVia will hold the remaining 50%, Telefonica said.
The transaction remains subject to regulatory approvals.
Write to Najat Kantouar at najat.kantouar@wsj.com
(END) Dow Jones Newswires
02-18-26 1015ET
