This is Britain’s broadband moment. Let’s seize it.

By bringing our strengths together, we are creating a scaled and financially secure wholesale fibre challenger to BT Openreach—one that will enhance competition, strengthen the UK’s digital infrastructure and deliver greater choice and quality for consumers and businesses.

This transaction unlocks £3.5 billion in international investment and reflects our shared confidence in the UK as a highly attractive market for long‑term investment, supported by the government’s economic policies. We are committed to accelerating full‑fibre coverage and helping ensure the UK remains competitive and ready for the future.

With digital and tech central to our Modern Industrial Strategy, this major investment is a clear vote of confidence in the UK’s world‑class digital infrastructure, supporting thousands of jobs and putting more money in people’s pockets.

This announcement will help deliver real benefits across the UK, creating new fibre networks and connection points for up to two million premises, and strengthening the UK’s position as a thriving business hub.

This transaction creates the largest alternative fibre platform in the UK, establishing the foundation for much-needed altnet consolidation, and sustainable wholesale competition. It will help drive innovation and deliver the economic and societal benefits that full fibre connectivity makes possible.

This landmark transaction with nexfibre represents the natural evolution of the UK’s fibre market. Consolidation has been inevitable, and this deal creates the scaled, sustainable platform needed to drive genuine wholesale competition. Importantly, our retail brand, You Fibre, will remain post-close, ensuring our customers continue to receive the same trusted service they know today, while benefiting from the financial strength and infrastructure scale this combination delivers. This is about building a stronger future for UK fibre.

We acknowledge the CMA’s initial review and will continue to engage constructively. Our proposed acquisition of Netomnia unlocks £3.5 billion of capital and creates financially-secure, scaled wholesale competition to BT Openreach. Acting now will strengthen the sector, and deliver greater choice, resilience and long‑term investment in full‑fibre infrastructure. This transaction aligns with Government ambitions to back growth and remove barriers to investment, and timely progress will help ensure these benefits are realised.

As long term investors in UK digital infrastructure, we note the CMA’s initial review and support a constructive and efficient CMA process. This is Britain’s Broadband Moment and timely consolidation is essential to sustain investment and build a credible alternative to BT Openreach. The nexfibre–Netomnia combination strengthens the sector, increases wholesale choice for ISPs and supports the Government’s ambition to reduce fragmentation and enable continued investment and competition.

Fantastic to hear nexfibre are upgrading 13,000 premises across Ashford to full fibre broadband. I recently met with their CEO, Rajiv Datta, and was pleased to hear that over the next few years, they have plans to invest over £2m to upgrade legacy cable to full fibre in Ashford. This is great news, as the investment will futureproof connectivity for local consumers and businesses, bringing greater choice, quality, and opportunity to our community.