Published by maria gbaf
Posted on September 3, 2021
1 min readLast updated: February 13, 2026
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MADRID (Reuters) – Spanish telecom operator Telefonica has hired investment banks Barclays and LionTree to seek a partner to finance its fibre network in Britain, Spanish online newspaper El Confidencial reported on Thursday citing sources close to the transaction.
British cable and mobile provider Virgin Media O2, jointly owned by Telefonica and Liberty Global’s, is planning to upgrade it entire network to full fibre by 2028 and raise its number of subscribers to 21 million, El Confidencial said.
The operation would require between 4 billion euros and 5 billion euros, El Confidencial said.
A spokesperson for Telefonica declined to comment. A Barclays spokesperson was not immediately able to comment. LionTree did not immediately respond to a message seeking comment.
(Reporting by Inti Landauro; Editing by Edmund Blair)
Telefonica is looking for a partner to finance its fibre network in Britain.
Telefonica has hired Barclays and LionTree to assist in seeking a financial partner.
The operation would require between 4 billion euros and 5 billion euros.
Virgin Media O2 plans to upgrade its entire network to full fibre by 2028.
A spokesperson for Telefonica declined to comment, and Barclays did not provide an immediate response.
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