KCOM Considers Selling Hull’s City Fibre Broadband Business
KCOM is exploring the potential sale of its City Fibre Broadband business. This development comes with fresh efforts to attract buyers, as the firm appointed New York-based Perella Weinberg Partners to execute this initiative. KCOM, which employs approximately 700 individuals, has attracted attention since its acquisition by Macquarie Asset Management in 2019 for £627 million.
KCOM’s Recent Developments
In its 120th anniversary year, KCOM sought advice from PJT Partners regarding a strategic review. This was initiated as KCOM faced increased competition from emerging network providers. Although no definitive steps were taken following this review, circumstances have changed with the inclusion of PWP in the process.
- Sales process underway with potential buyers being contacted.
- PWP specializes in mergers and acquisitions and financial advisory services.
- KCOM to officially market the business in Q2 2026.
Market Context
KCOM’s history dates back to its origins as Kingston Communications in 1904. Over the decades, the company has distinguished itself in Hull, maintaining a unique position as the only UK city not connected to BT’s Openreach network. Instead, it has evolved as an independent operator, even adapting its telephone boxes to a distinctive cream color.
Competition within the region has intensified due to the arrival of full-fibre broadband networks such as Cityfibre and Connexin. KCOM has responded by opening its network to additional third-party internet service providers.
Management Changes
Recently, KCOM appointed Richard Schäfer as its permanent chief executive. Initially joining as chief financial officer in February 2025, he transitioned to interim CEO seven months ago. Richard Greenleaf, KCOM’s chairman, commended Schäfer for his leadership capabilities and financial expertise.
As KCOM prepares for the market sale, the strategic decisions made will undoubtedly shape its future in the competitive telecommunications landscape.
