Virgin Media to invest £3 billion to extend UK network
Virgin Media will invest £3 billion to increase the reach of its fibre network from 13 million to 17 million homes.
The internet provider claims this is the single largest investment in broadband infrastructure in the UK for more than a decade.
The network, which would provide speeds of up to 152 megabits per second, will require 6,000 jobs to build out the infrastructure. The additional £3 billion in broadband investment is expected to benefit the economy by £8 billion, says Virgin Media.
“Millions of homes and businesses will soon be able to benefit for the first time from broadband speeds at least twice as fast as those available from the other major providers,” said Tom Mockridge, Virgin Media’s CEO.
“In virtually all of the areas we have identified for expansion, BT is the only option available right now. Its ageing copper telephony wires are not capable of the ultrafast connectivity that Virgin Media delivers. Soon we will offer unbeatable services to even more homes and businesses across the country,” he added.