Liberty Global Boss Claims UK Gov Wants it to Rescue Broadband Altnets

Mike Fries: UK government ‘anxious’ altnets could collapse

Credit: Richard Kendal/RTS The chief executive of Liberty Global has claimed business secretary Jonathan Reynolds wants big telecoms companies to rescue struggling altnets. At an industry conference this week organised by Bank of Ameroca, Fries said Reynolds wanted to see Liberty and other large players step in to acquire the companies. This week, CityFibre was linked to a potential cash bailout from Virgin Media O2 in which Liberty Global is a …

Liberty Global Boss Claims UK Gov Wants it to Rescue Broadband Altnets

The boss of Liberty Global (Mike Fries), one of the parents behind UK broadband provider Virgin Media (O2) and associated network builder nexfibre, has reportedly claimed that the UK Government’s Business Secretary, Jonathan Reynolds MP, expressed that he was “anxious” for them to step in and rescue struggling alternative networks. The past couple of years have been more than a little bumpy for the market’s many altnets. On the one hand, they’ve…