In January 2011 it was announced that there had been a management buy-out of the H2O Networks part of the i3 business, including Fibrecity, by the ex i3 Group CCO Greg Mesch, the new company is to be called City Fibre Holdings.

[2] H2O was one of ten companies used by Stephen Dartnell and his co-conspirators to fraudulently obtain over £250m, with H2O the biggest victim, with an amount of over £160m.

Total Asset Finance, the backers, were subject to an investigation by the Serious Fraud Office[3] and, allegedly owed a Belgian bank over £130 million.

[4] The crown court case started in September 2016, with the final sentencing handed down in February 2017.

George Alexander and Stephen Dartnell, of Total Asset Limited, were sentenced to 12 and 15 years respectively at Southwark Crown Court.