nexfibre / Substantial merger inquiry

24 July 2026: On 17 July 2026, the CMA accepted interim undertakings offered by Substantial pursuant to section 80 of the Enterprise Act 2002.

7 July 2026: This document sets out the scope of the inquiry. It outlines initial theories on what might be adversely affecting competition, but it does not set out findings or conclusions. The deadline for submitting responses to the Areas of focus document was 5pm on Monday 20 July 2026.

1 July 2026: The CMA has appointed the following inquiry group:

1 July 2026: The CMA has referred the anticipated acquisition by Liberty Global, Telefónica and InfraVia, through their joint venture nexfibre, of Substantial (including Netomnia, Brsk, Brsk ISP and YouFibre) for an in-depth investigation.

1 July 2026: The CMA has referred the anticipated acquisition by Liberty Global, Telefónica and InfraVia, through their joint venture nexfibre, of Substantial (including Netomnia, Brsk, Brsk ISP and YouFibre) for an in-depth investigation under its fast-track procedure at the request of the merging parties.

29 June 2026: The CMA announced the launch of its merger inquiry by notice to the parties.

Invitation to comment: closed 8 May 2026

23 April 2026: The CMA is issuing this ‘invitation to comment’ to allow interested parties to submit to the CMA any initial views on the impact that the transaction could have on competition in the UK. The CMA has not yet launched its formal investigation into this transaction. This invitation to comment is the first part of the CMA’s information-gathering process.

To assist it with this assessment, the CMA invites comments on the transaction from any interested party.

Written representations about any competition issues should be provided by 8 May 2026.

The CMA has received the necessary information from the parties to commence pre notification.

Please send written representations about any competition issues to: [email protected]