A new ultrafast broadband network backed by Goldman Sachs, the Wall Street bank, is closing in on a deal to take over a rival venture set up by TalkTalk, the FTSE-250 telecoms group.

Sky News has learnt that CityFibre Holdings, which is part-owned by the Wall Street giant, was on Thursday night edging towards an agreement to acquire 100% control of FibreNation.

An agreement could be announced as soon as Friday morning, although sources cautioned that a deal had not been finalised between the two companies.

Other bidders for a major interest in FibreNation, which include Macquarie, the Australian infrastructure investor, are said to remain in contention for a deal if the talks with CityFibre fail to yield a deal.

TalkTalk said on Wednesday that it was delaying its half-year results announcement because of the ongoing negotiations about a deal for its full-fibre network, which it believes can ultimately serve three million British homes.

News of the potentially imminent takeover of FibreNation by…

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Goldman-backed venture close to deal for TalkTalk broadband arm | Business News
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