nexfibre (InfraVia, Liberty Global and Telefónica) to Acquire Netomnia (Substantial Group) via JV
February 18, 2026
InfraVia, Liberty Global and Telefónica, through their existing joint venture nexfibre, have agreed to acquire Substantial Group (Netomnia), the UK’s second-largest alternative fibre provider. The deal is expected to unlock £3.5 billion of investment in the UK and create a scaled wholesale fibre challenger to BT Openreach, with completion expected by Q3 2026 subject to regulatory approvals.
- Buyers
- nexfibre, InfraVia, Liberty Global, Telefónica
- Targets
- Netomnia, Substantial Group, YouFibre, Brsk
- Sellers
- Advencap, DigitalBridge, Soho Square Capital
- Platforms
- nexfibre
- Industry
- Telecommunications
- Location
- United Kingdom
- Transaction Type
- Buyout
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