CityFibre Infrastructure Hldgs PLC Announcement of first FTTP city (1993C)

TIDMCITY

RNS Number : 1993C

CityFibre Infrastructure Hldgs PLC

18 January 2018

 
  For immediate release    18 January 2018 
 

CITYFIBRE INFRASTRUCTURE HOLDINGS PLC

('CityFibre' or the 'Group' or the 'Company')

Announcement of first FTTP city

Milton Keynes named as first city in CityFibre and Vodafone's full fibre to the premises roll-out

CityFibre (AIM: CITY), a leading designer, builder, operator, and owner of fibre optic infrastructure in UK towns and cities, is pleased to announce that Milton Keynes has been selected as the first city in Vodafone and CityFibre's roll-out programme. Accordingly, CityFibre will invest at least GBP40 million in incremental full fibre infrastructure to nearly every home and business in Milton Keynes over the next few years.

This follows the joint announcement on 9 November 2017 outlining the strategic partnership between Vodafone and CityFibre through which next generation Fibre-to-the-Premises ('FTTP') infrastructure will be delivered across 12 cities, reaching one million homes and businesses across the UK.

Starting in March 2018, CityFibre will begin construction of the new FTTP network, which will be an extension of its existing 160km full fibre network in the city, utilising modern build techniques to deploy the network quickly and to minimise disruption. Once completed, nearly every home and business in Milton Keynes will have access to a fully future-proofed digital network connection.

The network will provide Milton Keynes' residents and businesses with access to new market-leading Gigabit speed broadband services from Vodafone that will completely transform their online experience. With no reliance on outdated copper telephone lines, Vodafone's full fibre customers will enjoy speeds of up to 1000Mbps both downloading and uploading.

Milton Keynes was chosen as the first city because of the city's strong tech sector, the council's forward-looking commitment to 'smart city' initiatives, and the strength of its support for the project. The extent of CityFibre's existing fibre network in the city and the lack of meaningful alternative digital infrastructure also helped make Milton Keynes a prime candidate for selection.

Greg Mesch, Chief Executive of CityFibre, commented:

"The partnership between Vodafone and CityFibre aims to tackle the huge problem the UK faces in terms of digital inadequacy and will help deliver our vision of a Gigabit Britain. We are at the early stages of creating the Gigabit fibre network that the UK needs and deserves, and with the announcement of Milton Keynes as our first project, we are well on our way to making this vision a reality."

For further information, please contact:

 
  CityFibre Infrastructure Holdings        www.cityfibre.com 
   plc 
  Greg Mesch, Chief Executive Officer      Tel: [phone] 
                                            0602 
  Terry Hart, Chief Financial Officer 
  James Enck, Investor Relations           Tel: [phone] 
   Morten Singleton, Investor Relations     6283 
                                            Tel: [phone] 
                                            6270 
 
  finnCap (Nomad and Joint Broker)         www.finncap.com 
  Stuart Andrews / Christopher Raggett     Tel: [phone] 
   (Corporate Finance)                      0500 
  Simon Johnson (Corporate Broking) 
 
  Liberum (Joint Broker)                   www.liberum.com 
  Steve Pearce / Richard Bootle            Tel: [phone] 
                                            2000 
 
  Vigo Communications                      www.vigocomms.com 
  Jeremy Garcia / Fiona Henson             Tel: [phone] 
                                            9701 
 

About CityFibre:

CityFibre is the UK's leading alternative provider of wholesale full-fibre network infrastructure. With dense duct and fibre footprints in over 40 towns and cities throughout the UK, it provides a portfolio of active and dark fibre services to its customers which include service integrators, enterprise and consumer service providers, local authorities and mobile operators. CityFibre has begun a roll-out of Fibre-to-the-Premises infrastructure in a strategic partnership with Vodafone, targeting 5 million homes and businesses by 2025. CityFibre is based in London, United Kingdom, and its shares trade on the AIM Market of the London Stock Exchange (AIM: CITY). www.cityfibre.com

This information is provided by RNS

The company news service from the London Stock Exchange

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January 18, 2018 02:00 ET (07:00 GMT)