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Virgin Media O2 owners to build wholesale UK fibre network

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Reuters UK

LONDON (Reuters) – The owners of British cable group Virgin Media have joined forces with an investment firm to plough around 4.5 billion pounds ($5.5 billion)into a new fibre broadband joint venture that will pass 7 million premises, in direct competition with BT. Virgin’s owners Liberty Global and Spain’s Telefonica, plus InfraVia Capital Partners, said the network would also offer wholesale access to other broadband providers. Shares in BT were down 1.2%. The owners said the network would be available to 5 million homes that are currently not served by the current Virgin Media O2 network by…

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