Airband Community Internet, which had set a target of connecting 600,000 premises to full-fibre broadband by 2025, has enlisted advisers to seek new funding, Sky News learns.
Another of Britain's army of 'altnet' broadband infrastructure providers is to seek additional funding amid a tightening financial squeeze on the industry.
Sky News understands that AlixPartners and Houlihan Lokey, the restructuring firms, have been enlisted to work on a potential recapitalisation of Airband Community Internet, which serves counties including Devon, Shropshire and Oxfordshire. City sources said Airband had been working on financing options for several weeks and was likely to require a substantial injection of new capital.In November 2021 it announced that it had secured a £100m debt facility, saying it would help accelerate Airband's rollout to 600,000 premises by 2025.Its search for new funding comes amid broader strains on the altnet sector.
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