Aug 15, 2019

Virgin Media exec tapped to lead Liberty’s UK fibre broadband push

Virgin Media's long-serving chief financial officer will lead a push by its parent company Liberty Global to build millions of new full fibre broadband lines in smaller British towns and rural areas. An internal Virgin Media memo, seen by the Financial Times, said Robert Dunn would move to a new role at Liberty Global "Looking at potential infrastructure investments in the UK". The Financial Times reported in July that Liberty Global had appointed LionTree, the investment bank, to establish a joint venture company backed by infrastructure funds to install new fibre lines outside the Virgin Media footprint. Political pressure has been building on the industry to install full fibre optic lines that offer significantly faster broadband speeds than traditional copper and cable-based networks after UK prime minister Boris Johnson said the whole country should be able to connect to such a line by 2025. Virgin Media, which declined to comment on Mr Dunn's appointment, has invested in fibre as part of its £3bn Project Lightning plan. Mr Dunn has been chief financial officer of Virgin Media since 2013, when it was acquired by Liberty Global.

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