CityFibre on Monday reported that it more than doubled its turnover last year, but its main area of focus is currently BT’s planned acquisition of EE, which it reportedly fears will kill competition in the market.
The metro fibre network operator posted revenues of £3.84 million last year, up 105% year-on-year, but its EBITDA came in at a negative £5.94 million, compared with an EBITDA loss of £2.99 million in 2013. It also recorded a pretax loss of £7.03 million, greater than the £6.29 million loss it reported in 2013.
CityFibre CEO Greg Mesch and chairman Peter Manning issued a statement to say they are happy with "the pace and breadth of the group’s development over the past year."
"During this period the group delivered new milestone contracts across our four key vertical markets, as well as two ground-breaking deals through the joint venture agreement with Sky and TalkTalk, and the national framework agreement with EE, Hutchison 3G UK and Mobile Broadband Network Limited," the executives said.
The latter will see CityFibre provide dark fibre backhaul for the U.K. m obile operators. However, it has become a cause for concern for City Fibre, as a result of BT’s planned acquisition of EE.
CityFibre has lodged a complaint about the deal with the U.K.’s Competition and Markets Authority, which called for comments earlier this month, the Telegraph reported. It claims the deal will impact on competition in the market.
Essentially, CityFibre fears that its deal with EE, 3UK and MBNL will be "neutered" by the BT acquisition, the newspaper said.
