Treasury to host pivotal meeting between the City and telecoms firms

Oliver Gill
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Treasury minister Andrew Jones said on Monday some of the UK's internet infrastructure was more than 100 years old (Source: Getty)

Fund managers will tomorrow attempt to woo City analysts as they drum up support for a UK broadband revolution.

The government launched a £400m fund on Monday to take minority stakes in broadband investments. It selected M&G Infracapital and Amber Infrastructure to both run the fund and provide the vital link between broadband opportunities and sources of capital.

The Treasury will tomorrow host a series of meetings where the two asset managers will present broadband investment opportunities to City firms. Telecoms firms will attend to help provide further insight to the would-be investors.

Read more: UK's broadband is dependent on century-old network, says government

Announced in the Spring budget, this week's launch is seen by many as a watershed moment in connecting capital with broadband investment opportunities.

Investors must at least match a government stake in each project, with both parties benefitting from investment returns.

At the yesterday's launch treasury minister Andrew Jones said the UK's internet was dependent on cables that were, in some cases, over a century old. He added the government was committed to promoting better investment in broadband.

Read more: The government's kickstarting its plans to make Britain more digital

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