From Department of the Environment, Climate and Communications
Published on
Last updated on
"The National Broadband Plan (NBP) is the government’s initiative to deliver high speed broadband services to all premises in Ireland.
"Under the NBP, National Broadband Ireland (NBI) was contracted to build and deliver high-speed broadband to 1.1. million people living and working in over 560,000 premises within the State intervention area.
"As part of this contract, Government inserted provisions that would require NBI to notify, and seek consent from the Minister with regard to any proposed change in ownership or control.
"In July 2022, NBI informed me, as Minister, of its intention to initiate a change in ownership. In line with the NBP contract, my department carried out the required processes and due diligence. This process has now concluded, and I am satisfied to advise Government, today, of my decision to grant consent to NBI’s proposed change of ownership.
"A potential change in ownership is provided for in the NBP contract and is something which can occur in large-scale infrastructure/utility projects such as the NBP, particularly when a project reaches a steady state of operation.
"Under the proposed change of ownership, around 80% of the company will be acquired by Asterion Industrial Partners (Asterion), a Spanish independent investment management firm specialising in telecommunications.
"The government is committed to delivering a sustainable and digitally connected economy and is rolling out a world-class communications network across the country, enabling households, communities and businesses to embrace digital opportunities.
"NBI is on track to meet its target to pass in excess of 100,000 premises by the end of its third contract year (end of January 2023). Connections to the high-speed broadband network are exceeding projections with over 20,000 homes and businesses connected to date – an average of over 2,000 premises are connecting on a monthly basis."
ENDS
Asterion is an independent investment management firm focusing on infrastructure investments in Europe, headquartered in Madrid and with presence in London and Paris. As a pan-European long-term investor with decades of experience in telecoms infrastructure and a growing portfolio of rural fibre assets in the UK, Italy and Spain, Asterion has access to resources, expertise and vendors that can add significant value to NBI’s operations in Ireland.
For the most up to date information on the deployment of high-speed fibre within the intervention area visit the National Broadband Ireland website.