UK to fast-track review of nexfibre's $2.65 billion Netomnia deal to in-depth probe (updated)

Liberty Global

01/07/2026 07:37

Adds company comment in paragraphs 4-5

    July 1 (Reuters) - Britain's competition watchdog on Wednesday agreed to fast-track its review of nexfibre's planned £2 billion ($2.65 billion) acquisition of Substantial Group, the parent of broadband operator Netomnia, to an in-depth investigation.
Nexfibre, a joint venture backed by Liberty Global, Telefonica and InfraVia, agreed to buy the country's second-largest "altnet" fibre network Netomnia for £2 billion ($2.7 billion) in February.
The deal will add more than 3.4 million fibre premises and over 500,000 customers to the partners' British footprint, which will reach 8 million premises with full fibre by the end of 2027, challenging BT's national Openreach network.
Rajiv Datta, chief executive of nexfibre, said: "We requested a fast-track to Phase 2 to get to the right answer faster; ensuring due process, while recognising urgency." 
"This deal would create the scaled, sustainable alternative to the BT Openreach monopoly, something the UK market still lacks."

        
  

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 (Reporting by Yamini Kalia in Bengaluru and Paul Sandle in London; Editing by Subhranshu Sahu, Elaine Hardcastle)
 ((Yamini.Kalia@thomsonreuters.com))