Nexfibre JV to Buy Netomnia Parent for £2.0 Billion, Boosting Shares 18%
Liberty Global’s Nexfibre joint venture with Telefónica and InfraVia will purchase Substantial Group, owner of UK full-fibre provider Netomnia, for £2.0 billion (€2.3 billion). The acquisition, expected to attract about £3.5 billion of international infrastructure investment and consolidate fibre rollout across mid-sized UK towns, sent Liberty Global shares up nearly 18%.
1. Deal Structure
Liberty Global’s joint venture Nexfibre, backed by Telefónica and InfraVia, agreed to acquire Substantial Group, the parent of UK full-fibre operator Netomnia, for £2.0 billion (€2.3 billion). The purchase price reflects Netomnia’s mid-tier footprint and includes projected commitments to attract about £3.5 billion of international funding.
2. Strategic Rationale
Folding Netomnia into Nexfibre consolidates two credible independent fibre operators, expanding network reach beyond major cities into mid-sized towns and strengthening financial firepower to combat rising construction costs and tighter credit conditions.
3. Market Reaction
Liberty Global shares surged nearly 18% on the news as investors anticipated accelerated nationwide rollout and improved scale economics from the combined infrastructure platform.
4. Next Steps
The acquisition remains subject to regulatory approval, with clearance expected to be a key milestone before integration begins and funding commitments are finalized.