{"id":34169,"date":"2023-04-07T17:25:09","date_gmt":"2023-04-07T16:25:09","guid":{"rendered":"https:\/\/www.ispreview.co.uk\/?p=34169"},"modified":"2023-04-07T17:25:09","modified_gmt":"2023-04-07T16:25:09","slug":"letterone-challenges-gov-order-to-sell-uk-full-fibre-network","status":"publish","type":"post","link":"https:\/\/www.ispreview.co.uk\/index.php\/2023\/04\/letterone-challenges-gov-order-to-sell-uk-full-fibre-network.html","title":{"rendered":"LetterOne Challenges Gov Order to Sell UK Full Fibre Network"},"content":{"rendered":"

The investor behind Upp’s \u00a31bn project to deploy a new Fibre-to-the-Premises (FTTP<\/a>) broadband ISP network across 1 million premises in the East of England by 2025 (here<\/a>), LetterOne, has launched a legal challenge against the UK Government’s order for L1 to sell its entire stake in Upp in order to \u201cprevent, remedy, or mitigate the risk to national security<\/em>\u201d (here<\/a>).<\/p>\n

Just to recap. Upp’s initial aim was to cover 50 towns (c.300,000 homes<\/strong>) in counties like Norfolk and Lincolnshire by the end of 2022. But so far we\u2019ve only seen them go live in around 11 towns, such as parts of Diss, Downham Market, Horncastle, King\u2019s Lynn, Market Deeping, Oakham, Spalding, Stamford, Thetford, Wisbech and Woodhall Spa.<\/p>\n

However, all of this was thrown into doubt in December 2022, after the Government ordered LetterOne \u2013 an investment firm that previously received significant backing from several prominent and now sanctioned Russians \u2013 to sell its entire stake in Upp in order to \u201cprevent, remedy, or mitigate the risk to national security<\/em>\u201d (here<\/a>).<\/p>\n

At the time LetterOne said they “believe that L1 ownership of Upp is not a threat to national security in any way<\/em>” and pointed out that “L1 is not sanctioned and has taken fast, decisive action to put in place strong measures to distance L1 from its sanctioned shareholders. They have no role in L1, no access to premises, infrastructure, people and funds or benefits of any description<\/em>.”<\/p>\n

The last update that we had in February 2023, which came from Upp’s CEO – Drew Ritchie<\/strong> (here<\/a>), said: “Discussions regarding the sale of the business are progressing well. In the meantime, it is very much business as usual, and our build is continuing at pace.<\/em>” But according to the FT<\/a> (paywall), LetterOne is now formally seeking a Judicial Review of the Government’s decision. The investor argues that its ownership of Upp does not pose a national security risk.<\/p>\n

Cases like this tend to take a long time to reach any kind of conclusion and, with respect to Upp itself, it probably doesn’t help that investor appetite to throw cash at alternative full fibre networks has somewhat cooled over the past year.<\/p>\n","protected":false},"excerpt":{"rendered":"

The investor behind Upp’s \u00a31bn project to deploy a new Fibre-to-the-Premises (FTTP) broadband ISP network across 1 million premises in the East of England by 2025 (here), LetterOne, has launched a legal challenge against the UK Government’s order for L1 to sell its entire stake in Upp in order to \u201cprevent, remedy, or mitigate the […]<\/p>\n","protected":false},"author":1,"featured_media":31143,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[1],"tags":[472,56,38,479],"class_list":["post-34169","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uk_isp_news","tag-business","tag-fttp","tag-politics","tag-security"],"share_on_mastodon":{"url":"","error":""},"yoast_head":"\nLetterOne Challenges Gov Order to Sell UK Full Fibre Network - ISPreview UK<\/title>\n<meta name=\"description\" content=\"The investor behind Upp's \u00a31bn project to deploy a new Fibre-to-the-Premises (FTTP) broadband ISP network across 1 million premises in the East of England\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ispreview.co.uk\/index.php\/2023\/04\/letterone-challenges-gov-order-to-sell-uk-full-fibre-network.html\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LetterOne Challenges Gov Order to Sell UK Full Fibre Network - 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