A new telecoms infrastructure firm has detailed a £1 billion plan to build a full fibre network covering one million properties in Eastern England by 2025.
Upp says it has already secured the necessary finance and regulatory approval for the project and has already started construction work in Norfolk and Lincolnshire.
Investment group LetterOne, which also has an interest in Holland & Barrett, is a notable backer, while the management team includes former EE CMO Pippa Dunn and former NTT CEO Jason Goodall.
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Ofcom fibre regulation
The company believes its network will deliver greater choice for consumers and businesses who have become increasingly reliant on connectivity for work, education, and entertainment during the pandemic but may not have access to the fastest speeds.
Openreach has pledged to cover 25 million premises by 2026, while Virgin Media’s gigabit speeds will be available to more than 15 million properties by the end of the year. Meanwhile, CityFibre is pitching itself as a third national network, with a commitment to reaching eight million by 2025, and several other ‘altnets’ are also building infrastructure.
The wider availability of fibre and greater competition between infrastructure providers should mean better home broadband services and superior 5G networks. By targeting a specific region of the country that it believes is underserved, Upp hopes to increase competition with the promise of affordable fibre connectivity at a time when faster, reliable broadband is a prized commodity.
In order to improve the economics and speed of the rollout, Upp will make use of Ofcom legislation that allows it to use Openreach’s ducts and polls while there are also plans to use assets from other infrastructure owners to minimise traffic disruption.
“I am thrilled to lead such a talented, dedicated and experienced team,” said Drew Ritchie, Upp CEO, and previously COO of altnet Gigaclear. “We are excited to partner with an investor who not only matched our passion and ambition for the opportunity but are committed to developing the UK’s digital infrastructure. I’m delighted to say that LetterOne have more than met this criteria, backing the business with substantial funding that allows us to concentrate on delivering next level broadband to the communities that need it most.”
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