TalkTalk said on Tuesday it launched ambitious plans to install ultrafast broadband in three million UK homes, in a direct challenge to BT’s Openreach. The company, led by chairman Sir Charles Dunstone, is raising £200 million from investors to fund the roll out and cut its debts. Directors will contribute £40 million. He claims the move will put the company “at the heart” of digital Britain.
This latest funding round brings the company’s total equity capital raised to more than $185 million, financing MOD said will help it bolster its presence in existing U.S. markets and in the United Kingdom, where it’s opened a handful of locations since signing a joint venture agreement in 2015 with Sir Charles Dunstone and Roger Taylor.