UAE to invest $691mln in UK broadband giant Cityfibre

Investment part of larger fundraising by Cityfibre

  
U.S. currency is seen in this picture illustration taken March 6, 2020. Image used for illustrative purpose

U.S. currency is seen in this picture illustration taken March 6, 2020. Image used for illustrative purpose

REUTERS/Mike Segar/Illustration

The UAE has plans to make an investment of £500 million ($691 million) in UK-based broadband company Cityfibre that is backed by Goldman Sachs, according to media reports. 

The capital is part of a larger fundraising by Cityfibre, according to Bloomberg, quoting a statement issued by the office of UK Prime Minister Boris Johnson ahead of the visit of Sheikh Mohamed Bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. 

The British fibre-optic-broadband provider is controlled by Goldman Sachs’ West Street Infrastructure Partners and French investment firm Antin Infrastructure Partners.  

Last April, Abu Dhabi’s sovereign-wealth fund Mubadala was reported to have plans to acquire a minority stake in CityFibre Infrastructure Holdings. 

The UAE’s crown prince is scheduled to visit the UK today. 

(Writing by Cleofe Maceda; editing by Seban Scaria) 

Cleofe.maceda@refinitiv.com 

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