Vodafone, CityFibre Form Partnership to Deliver High-Speed Fiber in UK
09 November 2017 - 7:23PM
Dow Jones News
By Adria Calatayud
Vodafone Group PLC (VOD.LN) and CityFibre Infrastructure
Holdings PLC (CITY.LN) have signed a long-term partnership to
deliver high-speed full-fiber connectivity to up to five million
homes and businesses in the U.K. by 2025, both companies said
Thursday.
Vodafone said it will have exclusive rights to market broadband
services on the fiber-to-the-premises network, which will be built,
operated and owned by CityFibre. Construction of the first phase of
the infrastructure, serving one million homes, is due to start in
the first half of 2018 and will be largely completed in 2021,
Vodafone said.
The first phase of the agreement is expected to be worth more
than 500 million pounds ($656.6 million) over 20 years, said
CityFibre.
Under the deal, both companies can extend the agreement to
expand coverage to a further four million premises by 2025.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
November 09, 2017 03:08 ET (08:08 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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