Virgin Media O2 - comment

Acquiring CityFibre would be marginal for Liberty/Telefonica unless the assets were acquired at a significant discount. Any potential purchase of CityFibre would likely be done directly by Liberty and Telefonica but would expand the footprint available to VMO2. The cash crunch at CityFibre underlines the cost and difficulty in building a fibre network to compete with BT, something that Nexfibre (50% owned by Liberty and Telefonica) will also be aware of.

https://www.telegraph.co.uk/business/2025/06/09/cityfibre-owners-court-virgin-media-o2-cash-crunch/