Virgin Media is one of the biggest broadband, TV and phone providers in the UK, but that doesn’t seem to be enough for the company, today announcing that they will be further investing in UK broadband development.
In terms of specifics, the investment will be as large as £3 billion and will be used to connect up to a further 4 million people in the UK over the next five years.
The UK is the world’s most internet-based major economy (Source: Ofcom). Broadband infrastructure, and the services offered over it, will be increasingly central to the country’s growth over the coming decades.
The £3 billion of additional private investment announced today is essential for individuals and businesses to thrive in the global digital economy. This substantial investment will be financed mainly through incremental borrowings. Analysis undertaken by leading economic consultancy Oxera has found that this investment can be expected to stimulate a combined £8 billion of economic activity and consumer benefit.
As part of the investment, Virgin Media expects to increase the number of homes and businesses which use Virgin Media services by almost a third, eventually leading to a total of 17 million premises covered by 2020.
You can find out more at the source link below.
Source: Virgin Media