Network operator nexfibre and supporting retail broadband ISP partner Virgin Media (O2), which share some of the same parentage, have today announced that they’ve expanded the reach of their symmetric 2Gbps speed capable Fibre-to-the-Premises (FTTP) network to more than 6,000 homes in the Falconwood area of South East London for the first time.
The area is currently already well covered by Openreach’s and CommunityFibre’s gigabit-capable FTTP broadband networks, not to mention some smaller deployments by Hyperoptic. But there should still be enough room in the local market for Virgin Media’s network, even if they are arriving a bit late to the party.
Nexfibre itself has already covered over 2 million premises across the UK with their new full fibre network (here) and many more will follow. Just for some context. Telefónica, Liberty Global and InfraVia Capital Partners originally set up their new £4.5bn nexfibre joint venture in 2022 (here), which aims to deploy an open access fibre network to reach “up to” 7 million UK homes (starting with 5m by 2026) in areas NOT currently served by Virgin Media’s network of 16m+ premises. The funding reflects £3.3bn of fully underwritten financing and up to £1.4bn in equity commitments.