economy
Aberdeen fund takes £200mn hit on failure of UK broadband provider
Sale of Airband to Macquarie-backed rival is latest sign of distress in indebted ‘altnet’ sector
TL;DR
- Airband, a UK broadband provider, has been sold to a rival backed by Macquarie.
- This sale is indicative of financial distress in the indebted 'altnet' sector.
- Aberdeen Standard Investments is expected to incur a £200 million loss from this failure.
- The altnet sector is facing significant challenges.