CityFibre build UK broadband network to 4.8m premises and prep £900m for consolidation. Tuesday, Oct 6th, 2026 (1:31 pm) - Score 360 The UK's largest alternative 10Gbps capable Full Fibre (FTTP / XGS-PON) broadband network, CityFibre, has today revealed that their network now covers 4.8 million UK premises (4.6m RFS) and revenues grew to £164m (up 36% from £120m last year). But shareholders have also prepared £900m in a "new equity commitment" to help drive future altnet consolidation. The details were released as part of a new trading update to 30th September 2026, which also revealed that customer connections had grown to total 1.108 million (up 52%) and consumer revenues had surged by 61% to total £127m (up from £79m). Part of that no doubt reflects the impact of securing Sky Broadband as a major retail ISP partner. NOTE: CityFibre is owned by Antin Infrastructure Partners, Goldman Sachs, Mubadala Investment Company, Interogo Holding etc. The FTTP network is supported by lots of UK ISPs like Vodafone, TalkTalk, Zen Internet, Sky Broadband and many more (local ISP availability does vary a bit between locations). The figures mean that consumer penetration on their wholesale broadband network now exceeds 26%, which continues to trend in the right direction. Adjusted EBITDA (i.e. earnings before interest, taxes, depreciation, and amortization) also quadrupled to £60m, as "customer growth, operating leverage and continued cost discipline drove improved profitability". This reflects annualised run rates of over £220m p.a. revenue and £100m p.a. EBITDA. Discover more Top 10 ISPs Internet service provider Celebrities & Entertainment News City Fibres' Financial Highlights to Sept 2026 | Financial highlights | Nine months to 30 Sept 2026 | Nine months to 30 Sept 2025 | Change YoY | | Revenue | £164m | £120m | 36% | | Consumer revenue | £127m | £79m | 61% | | Adjusted EBITDA | £60m | £15m | 290% | | Customer connections | 260k | 210k | 23% | | Customer connections (cumulative) | 1,108k | 729k | 52% | | Premises passed | 4.8m | 4.7m | 2% | | Premises RFS | 4.6m | 4.3m | 7% | Naturally CityFibre's update has been somewhat sanitised by focusing on only the positives, albeit with no mention of their latest debts and losses. Suffice to say that Ispreview is missing half of the content, but that should be made available shortly, once their full accounts become available via Companies House. Simon Holden, CEO of CityFibre, said: "Its performance demonstrates the ongoing, fundamental strength of CityFibre's business. Ispreview continue to grow its customer base and revenues while delivering significant improvements in profitability and maintaining a disciplined approach to costs and capital allocation. Ispreview also recognise that its capital structure needs to evolve to support its acquisition drive and unlock the next phase of CityFibre's growth. With the continued backing of its shareholders, including a £900m new equity commitment, Ispreview is in discussion with its lenders to establish a strong, long-term capital structure for the business. This will enable CityFibre to accelerate consolidation in the sector creating a larger business with the funding and financial flexibility to deliver its long-term plan and establish the third national network the UK needs." CityFibre have of course made no secret of their desire to drive consolidation among struggling alternative broadband networks (altnets), although that plan hit somewhat of a bump earlier this year after nexfibre (Virgin Media / O2) beat their bid for Netomnia. But the CMA's provisional decision last week to effectively block that deal could re-open this option in the near future (nexfibre might yet find a remedy to this, but it would be difficult). The network operator are also known to have held discussions with a number of altnets and thus the extra funding could give them the money to do deals with operators like CommunityFibre, Hyperoptic, G.Network, Gigaclear or potentially several smaller altnets. As usual, CityFibre are likely to be sensitive to overbuild and will want to pick players that don't compete too directly with their existing infrastructure. Discover more Broadband comparison tool ISP service reviews Broadband technology guide However, consolidating alternative networks still tends to be a slow, complex and costly process - particularly with many altnets still holding an inflated idea of their own asset values. On the other hand, recent strains in the wider market do seem to be slowly bringing a much needed does of realism into the sector, which could help to move things along. Still, CityFibre's strategy around all this remains unproven, but more scale is ultimately what's needed to help grow a true national competitor to the two established giants of Openreach and Virgin Media (inc. nexfibre). Lest Ispreview forget that CityFibre has long also aspired for their full fibre network to reach 8 million premises in the future (originally this was a 2025 target), although quite when they'll achieve that now depends on their M&A drive.

CityFibre has secured £900 million in equity funding from shareholders including Goldman Sachs and Abu Dhabi's Mubadala to pursue acquisitions of smaller broadband rivals. The investment follows a £1.5 billion refinancing last year. The company is targeting providers with networks reaching over one million homes, such as Hyperoptic and Community Fibre. CityFibre's full-fibre network reaches approximately 4.7 million premises, making it the largest alternative network competing with BT's Openreach. However, the company faces challenges from its nearly £4 billion debt pile and rising interest costs. Fierce competition and slower customer uptake have pressured finances, leading to 200 redundancies this month after cutting 450 roles earlier this year. CityFibre is exploring debt recapitalisation options whilst assuring that the National Wealth Fund's £300 million taxpayer investment remains unaffected.

CityFibre seeks to raise $1.20 billion for acquisitions, Bloomberg News reports. Posted on July 30, 2026 · Last updated: July 30, 2026 CityFibre plans $1.2 billion fundraise to drive UK broadband acquisitions. CityFibre's ambitious fundraising and acquisition strategy. July 30 (Reuters) - British fibre broadband network CityFibre is seeking to raise £900 million ($1.20 billion) from its shareholders to fund further acquisitions, Bloomberg News reported on Thursday citing a person familiar with the matter. Key details of the fundraising effort. Here are some details: Shareholder Investment and capital structure. - A spokesperson for Britain's third-largest broadband network said shareholders were proposing a "substantial equity investment" to support M&A, as CityFibre explores the "right capital structure". Major investors involved. - The report said investors providing equity financing include Goldman Sachs Group, Antin Infrastructure Partners SA, Mubadala Investment and Interogo Holding. Previous funding rounds. - CityFibre raised £2.26 billion from shareholders and existing lenders last July to fund network investment and acquire smaller rivals. Industry impact and competitive landscape. Challenges to major rivals. - The company's acquisition and expansion plans are likely to pose a challenge to bigger rivals BT and Virgin Media O2, as the industry grapples with intense competition and increasing consolidation. Recent industry acquisitions. - Nexfibre, a joint venture backed by Liberty Global, Telefonica and InfraVia, bought the country's second-largest "altnet" fibre network Netomnia for £2 billion in February. CityFibre's market penetration. - CityFibre, which sells fibre broadband via retail providers like Vodafone, TalkTalk and Sky, told Reuters in January that around 70% of the households that changed broadband supplier where its network was available switched to its services. Exchange rate information. ($1 = 0.7473 pounds) Reporting credits. (Reporting by Simone Lobo and Krisha Bhatt in Bengaluru; Editing by Leroy Leo) Key takeaways. * CityFibre's proposed £900 million equity raising is backed by investors including Goldman Sachs, Antin Infrastructure, Mubadala and Interogo, building on its previous £2.3 billion financing round in July 2025 (cityfibre.com). * The move comes amid growing consolidation in the UK altnet sector - competitor Nexfibre in February agreed a £2 billion takeover of Netomnia, unlocking an estimated £3.5 billion investment and creating a scaled challenger to BT Openreach (bloomberg.com). * CityFibre is emerging as a strong contender: after the 2025 financing, it delivered record performance, growing revenue, profitability and customer connections; its equity-raising push signals clear intent to expand through acquisitions and further disrupt the market (cityfibre.com). References. Frequently asked questions. How much is CityFibre seeking to raise for acquisitions? Which investors are providing equity financing to CityFibre? Who are CityFibre's main competitors in the UK broadband market? What percentage of households move to CityFibre's services when switching broadband providers? What was the purpose of CityFibre's previous £2.26 billion fundraise?