Telefónica, Liberty Global, and infrastructure investor InfraVia have agreed to acquire Netomnia, one of the United Kingdom’s largest independent fibre-to-the-home (FTTH) network providers, in a deal valued at about £2 billion (€2.3 billion) that could reshape the U.K. broadband landscape and accelerate fibre rollout across the country.
The acquisition was announced on 18 February 2026, with the three partners acting through their jointly owned telecom infrastructure venture Nexfibre. Nexfibre was launched to invest in and expand next-generation FTTH networks across Europe, tapping into the booming demand for high-capacity internet driven by streaming, remote work, cloud services, gaming, and artificial intelligence applications.
A Strategic Move To Boost Uk Broadband Competition
Netomnia has grown rapidly since its founding, thanks to significant backing from infrastructure funds and a strategy focused on building open-access fibre networks in underserved regions of the U.K. Its footprint now reaches millions of premises across towns and cities where national incumbents have been slower to deploy full-fibre broadband.
The deal brings together the complementary strengths of Telefónica, Liberty Global, and InfraVia:
Telefónica, one of the world’s largest telecommunications groups, has been expanding its fixed and mobile networks across Europe and Latin America and sees fibre as a long-term strategic asset.
Liberty Global operates major cable and broadband businesses across Europe and has been investing heavily in FTTH as cable networks evolve to full-fibre architectures.
InfraVia brings deep experience in infrastructure investing and long-term capital, supporting large-scale rollouts that require patient funding and operational expertise.
By acquiring Netomnia, Nexfibre strengthens its position as one of the most significant challengers to the dominant U.K. broadband incumbents, particularly BT/Openreach, which has led nationwide fibre deployment but faces increasing regulatory and competitive pressure to deliver faster rollout and lower consumer prices.
Accelerating Fibre Rollout Amid Growing Demand
Full-fibre broadband (also known as FTTP, fibre-to-the-premises) offers significantly higher speeds and more reliable connectivity than older copper or hybrid networks. In the U.K., government and industry targets aim to connect millions of homes and businesses to full-fibre networks by the end of the decade, as digital connectivity becomes critical for economic growth, education, healthcare, and smart-city infrastructure.
Netomnia’s existing network build-out and customer base provide Nexfibre with a ready-made platform to accelerate deployment, especially in areas where multiple network operators (MNOs) and local authorities are seeking alternatives to incumbent providers.
Telefónica and Liberty Global have both highlighted the strategic importance of scalable fibre infrastructure in an era where data consumption and digital services are growing exponentially. With Artificial Intelligence, Virtual Reality, and ultra-high-definition streaming driving even higher bandwidth requirements, private network investment is being seen as essential to meet future demand.
Investor Confidence And Sector Consolidation
The €2.3 billion valuation reflects strong investor confidence in the long-term returns of fibre infrastructure. Telecom infrastructure has become one of the most attractive investment classes in the wake of economic uncertainties and shifting consumer behavior, as stable cash flows from broadband subscriptions and predictable network usage create appealing profiles for institutional and private capital.
Industry analysts say the combination of Netomnia’s assets with the financial and operational capacity of Nexfibre will put pressure on competitors to innovate, improve speeds, reduce pricing, and expand service offerings. The consolidation trend also aligns with European broadband markets, where partnerships between operators and infrastructure funds are increasingly common to fund capital-intensive expansion.
Regulatory Landscape And Public Interest
The U.K. telecom regulator, Ofcom, has been actively encouraging competition and faster deployment of full-fibre networks. It has implemented policies aimed at reducing barriers to entry, promoting open access networks, and ensuring that consumers have affordable, high-quality broadband choices. A deal of this scale will attract regulatory scrutiny, particularly on how it impacts competition in local and national markets.
Supporters argue that greater investment will benefit consumers through faster rollout and improved services. Critics, however, caution that consolidation can reduce market diversity if not balanced with strong competition policies.
Looking Ahead
The deal is expected to close later this year, subject to regulatory approval. Once completed, Nexfibre and its partners plan to invest in expanding Netomnia’s infrastructure, potentially connecting millions more homes and enterprises to full-fibre networks across the U.K. The acquisition could accelerate the country’s transition to a fully fibre-based internet infrastructure, supporting economic activity, digital inclusion, and future technology adoption.
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