Broadband Firm Netomnia Courts Bidders for £2 Billion Sale

UK fiber challenger brand Netomnia Ltd. is courting multiple buyers for a potential £2 billion ($2.6 billion) sale, and has held advanced talks with rival CityFibre Holdings Ltd., according to people familiar with the matter.

Netomnia has not entered exclusive negotiations with the company, the people said, asking not to be identified discussing information that isn’t public.

It is also in talks with Nexfibre Networks Ltd., a broadband joint venture between shareholders in telecommunciations firm Virgin Media O2, and private equity investor InfraVia Capital Partners.

Both bidders value Netomnia at around £2 billion the people said, ...