Gigaclear

Mon 19 Jan, 14:45

I was scanning the FT and I just noticed an "exclusive". UK taxpayers are exposed alongside creditors who set to take over struggling broadband provider

The UK National Wealth Fund, NatWest and Lloyds are making this move after and unsuccessful attempt to sell Gigaclear.

Basically the attempt to sell the heavily indebted company failed to attract buyers, so creditors and owners are looking at other approaches. This should not affect customers. However the UK "national wealth fund" which provided a £240m loan guarantee may be affected - which would in turn impact UK taxpayers.

If you have a subscription you can see the detail at....

https://www.ft.com/content/41a3cd6e-5a44-4a58-aa04-e7927f34828f ;