LONDON: Virgin Media has announced £3bn investment in improving its fibre optic broadband network, increasing the network’s reach from 13 million to 17 million homes.
It says it is the biggest investment in broadband infrastructure in the UK for more than a decade.Virgin said the investment would also create 6,000 new jobs of which 1,000 would be apprenticeships.
Virgin Media currently has five million customers.The company is already in the process of expanding its network to 110,000 homes across east London, Glasgow, Sunderland and Teesside.
Virgin chief executive Tom Mockridge: “Top speed broadband is essential to economic performance”
Virgin Media said the additional £3bn in broadband investment would be worth £8bn in terms of stimulating UK economic activity.
