3i Infrastructure's major WIG investment
Written by: Philip Mason | Published:

3i Infrastructure plc has announced plans to increase its investment in the Wireless Infrastructure Group to the tune of £186 million. The transaction will see 3i become WIG’s sole institutional shareholder, having acquired the entire stake of current investor Barings.

According to the company, the transaction – which is expected to complete early this year - is “conditional on certain third-party consents.”

Speaking in light of the announcement, 3i managing partner and head of infrastructure, Phil White said: “This is an exciting time for the Wireless Infrastructure Group as customers expand coverage in rural areas and densify networks in urban and suburban areas.

“WIG’s management team has a clear vision for supporting its customers as they prepare for 5G and we look forward to backing them further through this next phase of growth.”

Scott Coates, CEO of WIG said: “We are busy investing in new infrastructure right across the UK, from new towers in the Highlands of Scotland to 5G-ready small cell networks that will connect self-driving cars in the West Midlands.

“With 3i’s backing we can continue to scale-up the company and deliver infrastructure to support our customers as 5G approaches. The transaction also comes at an ideal time as we prepare our bid to deliver infrastructure that will enable mobile connectivity on the London Underground.”

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