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CityFibre Holdings gain investment from Citigroup
Friday 02 March 2012 16:40:19 by John Hunt

CityFibre Holdings (CFH) have secured investment from Citigroup to help it fund the company's plans to build metro based fibre infrastructure in UK cities. Back in November, CFH announced that they had partnered with Macquarie Capital to help the company raise £500 million of capital to help it expand operations, and it said it intended to connect one million home and 50,000 businesses up with fibre-to-the-premises (FTTP) technology.

"We are pleased to offer CityFibre this facility as we believe that CityFibre is well-placed to develop its alternative fibre infrastructure offering to serve UK homes and businesses. We look forward to working with CityFibre in its future development."

Michael Lavelle, (Head of EMEA Capital Markets), Citi

CFH intend to focus this investment on metro fibre networks in "second tier cities", and will operate them in an open-access wholesale model. This could be particularly useful where counties are looking to deploy fibre to homes/businesses which currently lack access to super-fast broadband as a fibre network will be required to connect up the last-mile access part of the network. By deploying at the metro level, the company will be able to enable end user connections to be made in future, and will operate a network which will also appeal to businesses.

"I am delighted to announce the provision of a facility by such a prestigious financial institution as Citi. They understand the vital role of fibre infrastructure and recognise the unprecedented business opportunity afforded by acute underinvestment in the UK. CityFibre is perfectly poised to take full advantage of this unmet demand and looks forward to working with Citi to realise our vision".

Greg Mesch, (CEO) CityFibre Holding

Comments

Posted by whatever2 over 5 years ago
Still nothing in Bournemouth bar a tiny amount of free signups, probably the same amount of properties as before it all went bang.

A very good company at getting the headlines without actually doing anything.
Posted by Borisvon over 5 years ago
so in english what does any of this mean?
Posted by cyberdoyle over 5 years ago
I wish them a lot of luck, they deserve it. I admire any company trying to provide a decent futurproof service.
Too many dinosaurs think this country can compete in the global village whilst tied to the throttling and capping of ISPs being rooked by wholesale and openreach. There is something wrong with this country if they wish to hold back time and protect an old phone network that's way past its sell by date. The industrial revolution would never have happened if folk had stuck to the past.
Posted by themanstan over 5 years ago
Cyberdoyle... not these guys...

They're are related Bournemouth Fibrecity holdings and i3 group people... just read about them before thinking they may deliver something.

As for what it means, given there are no hard numbers... not a lot.
Posted by undecidedadrian over 5 years ago
So they fell apart owing a ton of money to the Belgium banks and so go round and rattle the tin to some other banks.

So the headline should be, banks still lending to the wrong people.
Posted by CaptainHulaHoop over 5 years ago
give it a rest doyle! the only company out there pumping real money into any kind of large scale fibre access and actually providing it on any kind of scale is openreach. they may not be perfect, but at least they are doing something.. Also they have announced FTTP to anyone that wants it in 2013 in an FTTx enabled area. What more do you want?
Posted by CaptainHulaHoop over 5 years ago
Full FTTP accross the whole country is just not affordable, and not something anyone wants to pay for or anything many people really need. And if it's a business that needs it, they just have to do what has always happened, swallow the costs of fast access as part of their operational costs, why should other companies or taxpayers subsidise other businesses,, or fibre access for residential users, just so they can pirate every new dvd release.
Posted by GMAN99 over 5 years ago
Yawn, same old comments from the same people...

Have B4RN hooked up any properties yet? Openreach are rolling out SFBB every day to properties whilst B4RN have yet to hook up one!

What isn't futureproof out FTTH on demand?
Posted by creakycopperline over 5 years ago
gmann your BT fanboy comments are geting old fast, Openreach rolling out sfbb? a third of it still goes via copper, FTTP/C patching up an outdated edwardian network, even those in an enabled area still have to live virtually next to the exchange to get connected via the green cab.
Posted by creakycopperline over 5 years ago
i see the BT polemonkeys have arrived to defend their paymaster.
Posted by CaptainHulaHoop over 5 years ago
have to live next to the exchange to get connected via the green cab? what are you talking about?
Posted by GMAN99 over 5 years ago
It's the speed that matters not the medium the rest of your comments make no sense. The network of today did not exist in Edwardian times what a foolish thing to say
Posted by creakycopperline over 5 years ago
oh well that's strange because i keep hearing stories of people been in a enabled area, but were'nt connected via their cabinet, must've been lying. i meant king edawrd era 1901 to 1910,
Posted by New_Londoner over 5 years ago
@CD
All very well but one of the projects you champion (B4RN) has already missed its target of starting digging by teh end of January, so perhaps this is more difficult than you imagine.

@Creaky
"even those in an enabled area still have to live virtually next to the exchange to get connected via the green cab". Nonsense, suggest you read up about FTTC, works for me and my exchange is nearly 2 miles away.
Posted by CaptainHulaHoop over 5 years ago
"oh well that's strange because i keep hearing stories of people been in a enabled area, but were'nt connected via their cabinet, must've been lying"
you're still making no sense
Posted by creakycopperline over 5 years ago
@CpatanHulaHoop i'm still not caring.
Posted by themanstan over 5 years ago
Creaky

What a load of tosh, I live in a village outside Oxford. The village cabs are fed from the Cowley exchange... They're enabled, took 3 months longer than announced by we still are connected.
I'm enjoying the 38 Mbps, better than 2 Mbps we did have. I don't care that it's copper because this tech allows speed now not in 10 years time that a 100%fttp would have resulted in.
Posted by mervl over 5 years ago
We all need to start living in the real world. There are a number of providers contributing to providing broadband in this country in differing ways - which is the route we've chosen as a nation that competition is good - and I wish all of them the best.The idea that you condemn any provider for all time because it's good or evil is straight out of a comic book and something you should have left behind at 7 years old, and I mean the physical age.
Posted by nickkcin over 5 years ago
Reverting back to the topic. Reported elsewhere is another quote "The new financing facility was apparently secured with CityFibre’s “long term contracted customer revenues” and Citigroup has also agreed to assist with the operators future financing requirements." That is the bit that should worry people, especially in Bournemouth
Posted by whatever2 over 5 years ago
they'd need some customers to get some revenues...

Citywhateverwearecalledthisweek i expect are more worried that BT have Bournemouth and neighbouring exchanges down earmarked for FTTH/P ... which probably dumps quite a bit on most of their potential market.

I'm starting to think it's more of a scam than a business.
Posted by CaptainHulaHoop over 5 years ago
@creakycopperline
not caring that your posts make no sense? ok, if you don't care that you are making no sense I'm pretty sure most people won't take anything you post on here seriously
Posted by c_j_ over 5 years ago
"I'm starting to think it's more of a scam than a business"

Disgraceful implication. Wash your mouth. If that was the case, those clever people in the City would never go near them. Well, not unless the usual "heads we get the bonus, tails we get the bonus" deals had been arranged.
Posted by creakycopperline over 5 years ago
this site is full propaganda BT bots, like gmann99 and alike, telling the descenters they should be gratefull for bt's table scraps. might aswell be renamed BTthinkbroadband {do not question their authority}. digital slow lane here we come.
Posted by themanstan over 5 years ago
Creaky

Your comments wouldn't be so bad, apart from the fact that you can't provide an alternative solution that UKgov and OFCOM has left us with... because as things stand there isn't one. VM has their own agenda, Fujitsu are just the same and wanted a heap of public cash to deliver not what they said in the first place (as BDUK showed). Everyone else is too small and risky for investors...
Posted by themanstan over 5 years ago
Because at the end of the day, this has nothing to do with BT. BT is doing just what any company would do... VM in BT's shoes would do so, so would Fujitsu, there are no altruistic telecoms companies. They are all the same...
Posted by GMAN99 over 5 years ago
Don't waste your breath he can't see past his hatred. Reminds me of someone from days gone by
Posted by creakycopperline over 5 years ago
Posted by GMAN99 11 days ago
Don't waste your breath he can't see past his hatred. Reminds me of someone from days gone by

Pot kettle black, Gmann, from someone who puts the boot in everytime a piece on VM comes up, i don't remember the posters name but he was right, he wrote something like this "it is useless commenting on this site while gman99's biased view in regard to being ultra pro BT"
or words to that effect.
i'm sometimes convinced you have a picture of R branson on a dartboard. i know they only license the name.
Posted by creakycopperline over 5 years ago
so they'll fibre a remote leafy village near oxford, but not a street just outside of a town with a poulation of 16000

What a load of tosh, I live in a village outside Oxford. The village cabs are fed from the Cowley exchange... They're enabled, took 3 months longer than announced by we still are connected.
I'm enjoying the 38 Mbps, better than 2 Mbps we did have. I don't care that it's copper because this tech allows speed now not in 10 years time that a 100%fttp would have resulted in.
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