A Goldman Sachs investment fund has teamed up with Antin Infrastructure Partners to acquire UK fibre broadband provider CityFibre.

The deal by the ‘Connect Infrastructure Bidco’ consortium offered a 48 percent premium on CityFibre shares and values the company at £537.8 million (€616m).

Chris Stone, Chairman of CityFibre, said: “Under private ownership, CityFibre will be able to gain alternative and potentially easier access to the financing required for its announced FTTH deployment.

“This will strengthen the company’s ability to deliver on its vision to provide full fibre infrastructure to 20 percent of the UK market.”

Vodafone and CityFibre unveiled four new UK towns and cities that will get FTTH tech, as part of their partnership to deliver pure fibre broadband to one million premises by 2021.Coventry, Edinburgh, Huddersfield and Stirling join Milton Keynes, Peterborough and Aberdeen, which were announced earlier this year.

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