LONDON (dpa-AFX) - Persimmon Plc (PSN.L), a British housebuilding company, on Wednesday announced the sale of its full fibre broadband service, FibreNest Ltd., to BUUK Infrastructure Ltd. The sale is expected to complete within three months.
The sale is valued at approximately 100 million pounds, with 70 million pounds received at completion and additional payments dependent on the business' future performance.
The Board plans to use proceeds from the sale of its non-core asset to invest in its previously announced growth strategy, while also avoiding existing investment costs in FibreNest and freeing up capital for its medium-term growth goals.
FibreNest is set to join OFNL under the BUUK group, which delivers full-fibre broadband and utility services to new-build housing developments.
Under BUUK's ownership, FibreNest will expand customer choice by offering access to up to 18 internet service providers, supported by BUUK's strong track record in managing fibre and utility networks.
Persimmon is currently trading 0.11% lesser at 1364.50 pence on the London Stock Exchange.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
