CityFibre on Tuesday said it will raise up to £200 million by selling new shares in order to accelerate the expansion of its fibre networks.
The U.K. altnet has also agreed to acquire rival wholesaler Entanet for £29 million in cash.
CityFibre said in a statement that net proceeds from the share placement will go towards constructing residential fibre-to-the-home (FTTH) networks in five-to-10 locations in 2018.
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