Telefónica & Liberty Global in talks to buy Netomnia in £2bn UK fibre deal

Telefónica and Liberty Global, co-owners of Virgin Media O2, are in talks to lead a takeover of UK fibre network operator Netomnia worth around £2 billion, according to reports. The deal would fold one of the country’s fastest-growing alternative fibre players into the same camp as Virgin Media O2, sharpening their position against BT’s Openreach in the race to connect homes and businesses with full-fibre broadband.

Netomnia has been building out its own fibre network in competition with Openreach and other challengers. A successful acquisition by Telefónica and Liberty Global would mark another round of consolidation in the UK telecoms market, concentrating more of the country’s fibre infrastructure in the hands of a few large groups and potentially changing how wholesale access and retail broadband offers are shaped in the coming years.