An investment group that includes Abu Dhabi’s sovereign-wealth fund is close to acquiring a minority stake in CityFibre Infrastructure Holdings in a deal that would value the U.K. fiber-optic-broadband provider at more than $2.7 billion.
Investment would value U.K.-based CityFibre at more than $2.7 billion amid a race to build out superfast fiber-optic networks
The investment would be from Abu Dhabi’s Mubadala Investment Co. and the investment arm linked to the family behind IKEA, the people said.
It comes as wholesale broadband community suppliers like CityFibre and incumbent telecom operators equivalent to AT&T Inc. within the U.S. and Britain’s BT Group PLC are racing to expand their high-speed networks to succeed in extra clients and assist the rollout of superfast 5G wi-fi providers.
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On the identical time, the promise of recurring income generated from the high-speed transmission of video and different bandwidth-hogging information is drawing buyers looking for regular long-term returns.
The deal, if finalized, is predicted to be introduced over the approaching weeks and would worth CityFibre at greater than £2bn, equal to $2.7bn, the folks mentioned.
Source: Wall Street Journal
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