Global Connectivity looking to pass 350,000 UK homes within the next year
London, UK
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October 10, 2023 09:28 AM Eastern Daylight Time
Global Connectivity PLC (AQSE:GCON) Executive Chairman Keith Harris speaks to Thomas Warner from Proactive about the strides the business is making in bringing high-speed internet to the UK's rural communities.
Founded three years ago as Rural Broadband Solutions PLC, GCON aims to narrow the digital divide between metropolitan and rural regions. Harris highlighted that 80% of the UK is designated as rural, housing 20% of the population. He says that while major firms focus on metropolitan areas, Global Connectivity instead zeroes in on rural communities.
The company recently partnered with US-based Tiger Infrastructure Partners Fund III LP, which acquired 85% of Global Connectivity for a £75 million investment. Additionally, a merger with Macquarie and another infrastructure fund has positioned the resulting entity Voneus as the UK's largest rural broadband player, with plans to invest £250 million and reach 350,000 homes within the next year.
Harris concludes by saying that he anticipates significant sector consolidation by early 2025.
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