Two of Britain’s greatest impartial fibre broadband networks have been holding talks a couple of mixture that may worth the enlarged entity at a number of hundred million kilos.
Altnet business sources mentioned the talks had progressed to an in depth stage, though there was no certainty that an settlement could be reached.
One mentioned {that a} merger might worth the newly created firm at round £500m.
Zzoomm, which is run by chief government Matthew Hare, has been open about its need to take part in business consolidation.
“An enlarged group, based around our established operational and effectiveness and technical infrastructure, would benefit from the economies of scale,” he mentioned in June.
The corporate is being suggested by Acuity Advisors, a technology-focused agency.
CityFibre Holdings, the biggest impartial challenger to BT Group’s Openreach, has already acquired numerous smaller rivals, whereas firms equivalent to G Community are actually considered being ‘in play’.
On Thursday, a spokesman for Zzoomm, which is backed by the US funding large Oaktree Capital Administration, confirmed that it was in negotiations with “numerous” events however declined to remark particularly on Freedom Fibre.
A spokeswoman for Freedom Fibre didn’t reply to a request for remark.
