UK Braces For Internet “Blackouts” Due To Coming “Wave Of Bankruptcies”

Internet “blackouts” as a result of a “wave of bankruptcies” in broadband networks could be on their way.

British daily newspaper The Telegraph noted this week that certain smaller broadband suppliers are “being pushed to the brink” that that the effects of inflation could eventually leave homes without connectivity.

Ofcom, the government-approved regulatory and competition authority for the broadcasting, telecommunications and postal industries of the United Kingdom, is already in the midst of drawing up “contingency plans” with telecom company BT to take on thousands of its customers if smaller suppliers begin to fail.

BT has seen more than 150 smaller challengers materialize and try and compete with it. Many of these companies have been backed by private equity, pension funds and sovereign wealth, the report notes.

But there could be too many cooks in the proverbial kitchen. The increased competition means that some companies are going to be “pushed to the brink”, the report notes. – READ MORE