Ultrafast Fibre moves to WEL Networks ownership

MEDIA RELEASE

On behalf of Ultrafast Fibre Limited

7 September 2016

Ultrafast Fibre moves to WEL Networks ownership

Ultrafast Fibre Limited (Ultrafast Fibre) says it fully supports today’s announcement from Communications Minister Amy Adams, that WEL Networks Limited (WEL) will purchase all of the Government’s shares in Ultrafast Fibre.

The Local Fibre Company will now be 100 per cent owned by WEL and strategic partner Waipa Networks Limited.

Ultrafast Fibre CEO, William Hamilton, says the purchase was always going to happen and has come at a good time for the fast-moving telecommunications sector.

“This is an exciting point for us and for the future of Ultra-Fast Broadband (UFB) in our regions.

“Ultrafast Fibre is a dynamic business and we congratulate WEL and Waipa Networks on their commitment to further progress the innovative approach we are taking,” says Mr Hamilton.

“We have worked successfully with WEL to roll-out our fibre network in urban areas of Hamilton, Tauranga, Whanganui, New Plymouth, Tokoroa, Hawera, Cambridge and Te Awamutu.

“We are proud to now be providing access to UFB for more than 190,000 end users across the North Island.

“It’s hugely motivating to see the way fibre is transforming the way our customers communicate, work and play.”

Ultrafast Fibre says it has appreciated the support of Crown Fibre Holdings for the UFB1 rollout and hopes to be involved in future Government-led telecommunications initiatives.

ENDS

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