Nexfibre is a neutral wholesale open access operator focused on fibre deployment in the UK.  The fibre network provides wholesale FTTH access to telecommunications service providers, with Virgin Media O2 as the initial main anchor customer.

It is a 50/50 joint venture where Telefónica Infra and Liberty jointly own 50% (25% each) and the remaining 50% is held by InfraVia Capital Partners.

The agreement was signed in July 2022 and started operations in January 2023. In April 2024, it had already reached more than 1 million premises passed.

The initial roll-out of 5 million homes envisages an investment of approximately £4.5 billion. The three partners have agreed to fund their pro rata share of equity funding for the build, up to £1.4 billion in aggregate, phased over 5 years. In addition, the JV has obtained £3.3billion of fully underwritten debt financing from a consortium of financing banks.

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