LONDON -- BT will invest a further £50 million into its commercial fibre broadband programme over the next three years, it was announced today. The money will benefit more than 30 cities, helping to make high speed broadband available to more than 400,000 additional premises. BT is spending more than £3 billion on deploying fibre broadband and its open access fibre network already passes more than 18 million homes and businesses. That footprint is set to grow rapidly as various rural fibre programmes are delivered.
UK fibre broadband availability currently stands at 73 per cent, when all networks are taken into account. The current Broadband Delivery UK programme, which receives financial support from both central and local government, is set to extend that coverage to around 90 per cent by late 2015 or early 2016. The programme has made strong early progress with hundreds of thousands of premises passed with fibre to date.
BT’s new investment will focus on three areas:
BT Group plc (NYSE: BT; London: BTA)