CityFibre Raises £2.3 Billion to Challenge BT’s Openreach

CityFibre Holdings Ltd. reached an agreement with existing lenders and shareholders to inject another £2.3 billion ($3.1 billion) to expand the company’s footprint as the UK’s crowded market for alternative network providers heads for a reckoning.

The funds include about £500 million in equity from existing shareholders including, Goldman Sachs, Antin Infrastructure Partners, Mubadala Investment Co. and Interogo Holding, the company said Monday confirming a previous Bloomberg report.