Cityfibre has bought TalkTalk’s fibre network business for £200m making the company the third largest digital infrastructure platform.
Greg Mesch, chief executive of Goldman Sachs-backed Cityfibre said, “The UK is a service-based economy, and this runs best on full fibre.
“Ensuring national coverage is critical and this can only be achieved by driving infrastructure competition at scale. This deal demonstrates the appetite from industry to see it established.”
TalkTalk chief executive Tristia Harrison said: “This agreement is good news for TalkTalk and good news for Britain’s fibre rollout.
“Our investment over the last five years and the excellent work delivered by the Fibrenation team, combined with Cityfibre’s well-established platform, will support wide geographical reach of full fibre and further drive competition and customer take-up in the market.”
TalkTalk shareholders are yet to approve the deal.