StockMarketWire.com - Bigblu Broadband said its subsidiary QCL Holdings had secured £12m of new equity and debt funding to support the build-out of its fibre backed fixed wireless network business across the UK.

This £12m funding would allow Quickline to significantly increase the size and scale of its fixed wireless access business to target a customer base of approximately 30,000 subscribers over the next three years, with significantly increased revenue, earnings (EBITDA) and profitability anticipated as new capital is deployed and the business increases in scale, the company said.

The transaction values QCL at an enterprise value of £15m (pre new money), a significant uplift compared to the valuation at the time of BBB's acquisition of Quickline in August 2017 of £8.4m, the company added.


At 8:59am: [LON:BBB] BigBlu Broadband PLC share price was +1.5p at 114.5p



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