UK altnet Netomnia acquired for roughly €2.3bn by telecom joint venture Nexfibre

UK altnet Netomnia acquired for roughly €2.3bn by telecom joint venture Nexfibre · Euronews

Quirino Mealha

Thu, February 19, 2026 at 1:27 AM GMT+9 1 min read

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Nexfibre, the UK full-fibre broadband venture backed by InfraVia, Liberty Global and Telefónica, is set to buy alternative network provider Netomnia.

According to an announcement on Wednesday, the deal agreed values Netomnia’s parent company, Substantial Group, at £2bn (€2.3bn), and it is anticipated that it will attract around £3.5bn (€2.3bn) of international investment into the UK.

Shares of Liberty Global are trading over 10% higher following the announcement. As for the other two companies that make up Nexfibre, InfraVia is not publicly traded and Telefónica hasn’t seen much movement as it is down around 1% for the day.

The move consolidates two of the more credible independent fibre operators in the wholesale space and reinforces the market’s position as a top investment choice for long-term infrastructure at a difficult time for the alternative network provider sector.

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Rising construction costs, overlapping rollout footprints and tighter credit conditions have squeezed smaller operators. However, Netomnia has built a meaningful full-fibre presence in mid-sized towns and cities beyond the major urban centres.

Folding it into Nexfibre gives the combined entity greater geographic reach and financial firepower.

Analysts have anticipated a shakeout among UK altnets for some time. This acquisition suggests that process is now firmly underway, with capital consolidating around platforms large enough to carry long-term build programmes to completion.

The deal remains subject to regulatory clearance.

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