Rural broadband provider sold at a knockdown price as backers lose £200m

Rural broadband provider Airband has been sold out of administration to rival Voneus, in a deal that secures the jobs of all its employees but leaves its financial backers facing steep losses.

Alastair Beveridge and Kevin Wall of AlixPartners UK LLP were appointed joint administrators of Airband on 27 August, with a sale of the business and assets to Voneus completed immediately afterwards.

Airband's network spans rural and semi-rural parts of the UK, with a strong presence in Worcester... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...