Broadband giant CityFibre to sell stake to new investor

Broadband giant CityFibre to sell stake to new investor

The owners of CityFibre Holdings, the telecoms infrastructure company, are to raise hundreds of millions of pounds from the sale of a stake to a new shareholder to aid their delivery of a £4bn investment programme.Sky News has learnt that CityFibre has appointed the investment banks UBS and Rothschild to identify a third investor to join Goldman Sachs-backed West Street Infrastructure Fund, and Antin Infrastructure Fund.

The process, which is expected to take several months, will formally get under way this week, according to industry sources.

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CityFibre's plan would make it second only to BT's Openreach Pic: BT



Insiders said CityFibre was likely to sell a substantial minority stake, which would enable it to receive a capital injection potentially worth many hundreds of millions of pounds.In a statement on Monday, a CityFibre spokesman said: "We