CityFibre asks banks to write down debt and fund new M&A

UK fiber operator CityFibre has asked banks to write down part of a £2 billion ($2.7 billion) loan and provide fresh money for acquisitions as it seeks to stay afloat, according to people familiar with the matter.

• CityFibre seeks write-down of part of its £2 billion ($2.7 billion) loan
• Company also asked banks for new money to fund M&A deals
• Move aims to keep the UK fiber operator afloat