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UK Regulator Fast-Tracks Review of Nexfibre's Proposed Takeover of Netomnia Owner
The Competition and Markets Authority will accelerate its assessment of a potential Phase 2 investigation into the deal announced in February. Nexfibre, a joint venture of Liberty Global, Telefónica and InfraVia, seeks to combine its network with Netomnia.
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The Competition and Markets Authority said Wednesday it will fast-track a review into a potential in-depth Phase 2 investigation of Nexfibre’s proposed £2 billion takeover of Substantial Group. The move follows a request from Nexfibre last month for an accelerated process. Nexfibre struck the deal in February to acquire Substantial Group, which operates the Netomnia brand.
The combined entity is expected to reach more than 3.4 million fibre premises and over 500,000 customers upon completion. Nexfibre is a joint venture that includes Liberty Global, Telefónica and private equity firm InfraVia. The CMA will decide by August 26 whether to open the fuller investigation.
Rajiv Datta, chief executive of Nexfibre, said the fast-track request aimed to reach a decision more quickly while preserving due process. He added that the transaction would create a scaled alternative to the BT Openreach monopoly. Liberty Global and Telefónica jointly own Virgin Media O2.
Together with InfraVia they own Nexfibre. The combined network, including Virgin Media O2’s 2.1 million premises, is projected to reach around 8 million premises by the end of 2027. Simon Holden, chief executive of CityFibre, said the acquisition would remove a successful challenger and reduce consumer choice given an 80 percent overlap between the networks.
The CMA investigation carries a statutory deadline of December 15, 2026.
