The owners of Virgin Media O2 are in advanced discussions to acquire UK broadband provider Netomnia, according to a report by the Financial Times.

Telefónica and Liberty Global are working with InfraVia Capital to pursue the transaction through Nexfibre, their jointly owned fibre vehicle. The deal could value Netomnia at around £2bn, with an announcement possible this week, the FT said.

Nexfibre is already the UK’s fourth-largest broadband network. A deal with Netomnia would significantly expand its footprint, potentially giving Virgin Media O2 access to fibre coverage reaching around 20 million premises.

The talks highlight growing private equity involvement in UK digital infrastructure, where fragmented ownership and heavy capital requirements have made consolidation increasingly likely.

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