CityFibre has appointed UBS and Rothschild to identify a new investor to support its £4 billion investment programme.

According to Sky News, which cites industry-based sources, CityFibre is poised to sell a "substantial minority stake" likely to be worth "many hundreds of millions of pounds".

A CityFibre spokesperson said: “We can confirm that we’re exploring a possible expansion of our shareholder base to support the acceleration of our build and possible participation in the BDUK (Building Digital UK) rural programme.”

CityFibre has pledged to invest up to £4 billion to deploy a full-fibre network that would reach up to eight million premises by 2025.

To hear more about the investment environment for fibre broadband in the UK join us at Project Rollout on 17th and 18th March.