Vodafone Group (VOD)
CityFibre inks strategic partnership with Vodafone
CityFibre has signed a major strategic partnership with Vodafone.
CityFibre said that under the agreement, it would provide full-fibre connectivity in the first phase to a minimum of one million UK homes in 12 existing CityFibre towns and cities, with the potential to extend this to up to five million UK homes (approximately 50 towns and cities and representing 20% of the current UK broadband market) by 2025.
It said Vodafone had made a minimum volume-based commitment for ten years, which scales over the period, maturing at 20% of homes passed.
It said that in turn Vodafone had been granted a period of marketing exclusivity, city by city, for consumer grade fibre-to-the-home ('FTTH') services largely during the construction period.
CityFibre said that over 20 years the first phase of the agreement for one million homes is estimated by the company to be worth over £500m.
(LON:CITY) Cityfibre Infrastructure Holdings Plc share price was +11p at 54.25p
(LON:VOD) Vodafone Group PLC share price was +1.68p at 217.58p