Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  M&G plc    MNG   GB00BKFB1C65

M&G PLC

(MNG)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

M&G : backs significant infrastructure investment in Welsh broadband

10/14/2020 | 03:15am EST

14 October 2020

M&G backs significant infrastructure investment in Welsh broadband

  • Deal will initially bring high-speed broadband to 150,000 homes and businesses in southern towns and villages
  • New infrastructure investment will create at least 140 local jobs
  • Brings M&G's direct investments into the Welsh economy to almost £2 billion

Infrastructure funds managed by M&G plc, a leading savings and investments business, have today agreed to acquire a controlling stake in Welsh telecoms company Spectrum, to secure a major roll out of high-speed broadband in underserved areas of south Wales.

The deal secures capital to invest in full fibre broadband infrastructure, transforming the digital landscape for communities within the region, as well as creating at least 140 jobs locally to support the network buildout.

This latest investment by M&G brings the amount directly invested into the Welsh economy to almost £2 billion, through deals such as this, its ownership of commercial real estate and private lending to housing associations, infrastructure assets and companies.

The greenfield and digital infrastructure funds are managed by Infracapital, the infrastructure equity investment arm of M&G Plc, and seek to build, deliver and operate essential and sustainable infrastructure across Europe.

Jack Daniels, Chief Investment Officer, M&G plc, says: "Deals such as this demonstrate the impact patient capital can have when invested directly into local economies - creating jobs, supporting companies, providing homes and businesses with an improved service and in turn, it should benefit our pension fund and institutional investors with much needed investment returns."

Giles Phelps, Spectrum Founder, says: "Spectrum is well known in Wales as a broadband innovator. We already provide high-quality broadband to underserved communities and start-up businesses. As we grow, we are committed to working closely with the communities we serve and to provide customers with an even better service from our local team. With Infracapital's support we aim to be Wales's biggest and best homegrown broadband service provider, and a key contributor to helping shape the future Welsh economy."

-ENDS-

Media enquiries:

Irene Chambers

irene.chambers@mandg.co.uk

+44 (0)20 3977 3284

About M&G plc

M&G plc is an international savings and investments business, managing money for both individual savers and institutional investors in 28 markets. As at 30 June 2020, we had £339 billion of assets under management and administration, around 5 million retail customers and more than 800 institutional clients.

With a heritage dating back more than 170 years, M&G plc has a long history of innovation in savings and investments, combining asset management and insurance expertise to offer a wide range of solutions. We serve our savings and insurance customers under the Prudential brand in the UK and Europe and for asset management in South Africa, and under the M&G Investments brand for asset management clients globally.

About Infracapital

Infracapital has raised and managed over £6.5 billion of capital across its funds, investing on behalf of institutional investors, including many pension funds in both the UK and Europe.

Infracapital has significant experience in the telecoms sector and manages a portion of the UK Government's Digital Infrastructure Investment Fund supporting the nationwide roll out of high speed fibre.

The UK is currently one of Europe's most underserved fibre broadband markets and has created multiple investment opportunities for Infracapital who have been active in the sector since 2015 and on the European Continent too. In May, the firm invested in Fibrus, a broadband provider based in Northern Ireland and in the following month, agreed to acquire the German broadband provider BBV.

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

M&G plc published this content on 14 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 October 2020 07:14:06 UTC


© Publicnow 2020
All news about M&G PLC
11/29M&G : behind £165 million plan to rollout fibre broadband to rural areas in Nort..
PU
11/25Britain eyes 'quick win' post-Brexit insurance reform, says BoE official
RE
11/16Investors tell European firms to reveal 'missing' climate costs in their acco..
RE
11/13M&G : backs electric vehicle and battery revolution with £150 million investment..
PU
11/12M&G : Real Estate's Global Outlook Report forecasts continued uncertainty as 'ne..
PU
11/11M&G : Prudential Staff Pension Scheme agrees longevity swap with Pacific Life Re
PU
11/09M&G : pledges support to COP 26 with net zero and carbon disclosure commitments
PU
11/04M&G : Disclosure regarding a transparency notification
AQ
10/14M&G : backs significant infrastructure investment in Welsh broadband
PU
10/12M&G : provides £353 million loan for London Real Estate assets
PU
More news
Financials
Sales 2020 12 854 M 17 144 M 17 144 M
Net income 2020 940 M 1 254 M 1 254 M
Net Debt 2020 5 453 M 7 273 M 7 273 M
P/E ratio 2020 4,52x
Yield 2020 9,31%
Capitalization 5 004 M 6 669 M 6 674 M
EV / Sales 2020 0,81x
EV / Sales 2021 0,59x
Nbr of Employees 6 000
Free-Float 99,5%
Chart M&G PLC
Duration : Period :
M&G plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends M&G PLC
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 198,83 GBX
Last Close Price 193,45 GBX
Spread / Highest target 24,6%
Spread / Average Target 2,78%
Spread / Lowest Target -18,8%
EPS Revisions
Managers
NameTitle
John William Foley Chief Executive Officer & Director
Michael Jonathan Evans Chairman
Roddy Thomson Chief Operating Officer
Clare Jane Bousfield Chief Financial Officer & Director
Robin Ann Lawther Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
M&G PLC-18.44%6 669
BLACKROCK, INC.42.25%109 062
BROOKFIELD ASSET MANAGEMENT INC.6.54%62 263
UBS GROUP AG7.65%52 200
BANK OF NEW YORK MELLON CORPORATION (THE)-20.62%35 401
T. ROWE PRICE GROUP INC.19.53%32 975