Infrastructure fund makes offer for Gigaclear
Gigaclear has made its business grow by focusing on deploying full fibre broadband in the rural areas of the UK and with it winning a number of BDUK contracts it has looked set to continue expanding for some years.
On late Friday news emerged that M&G Investment Management Ltd has made an offer for Gigaclear plc that values the provider at £270 million pounds, or if you express this as a valuation for each property passed its £3,700.
The offer is just an offer at this stage and would need approval by 50% of existing Gigaclear shareholders if it was to become a reality, and with the 400 pence price for each share which is a premium of 23% compared to the last round of fund raising it may appeal to shareholders.
Our coverage tracking has some 73,578 premises in postcodes that Gigaclear cover, this does include premises where the build is underway, so will be slightly higher than the number who can order, but should not include those areas that are in plans but still a year or two away from seeing the first connections.