InfraVia, Liberty Global and Telefónica have agreed a £2bn acquisition of Substantial Group through their joint venture, nexfibre, accelerating consolidation in the UK's alternative fibre market. The deal unlocks £3.5bn of projected investment between 2026 and 2040, positioning nexfibre as a major player in Britain's broadband infrastructure.

Substantial Group, backed by undisclosed investors, operates in the competitive UK fibre sector alongside providers like CityFibre and Hyperoptic. The acquisition strengthens nexfibre's network footprint and customer base, enabling faster rollout of full-fibre broadband to underserved areas. This follows growing investor interest in European telecom infrastructure amid rising demand for high-speed internet.

The transaction represents a strategic move by the international consortium to capture market share in Britain's rapidly expanding fibre market. With government targets for nationwide gigabit coverage by 2030, nexfibre's enhanced scale will help accelerate deployment while potentially triggering further industry consolidation.