Sep 1, 2019

Sky in talks to invest in Liberty Global fibre network

Sky is in talks over a potential investment in a new full fibre network to be built by Liberty Global that would substantially raise pressure on BT in the UK broadband market. Liberty Global appointed LionTree, the investment bank, to find partners for a new joint venture company that will build a full fibre network to millions of homes outside the most populated areas of the country. The discussions between Liberty Global and Sky over the new network are at an early stage, the people said. Sky is in separate talks over a wholesale deal to use Virgin Media's existing cable network which covers half the country. Liberty Global will apply to Ofcom for "Code powers" - the necessary approval to start building networks in the UK - in the coming days and expects to start laying new fibre by next summer, according to a person with direct knowledge of the timetable.

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