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Published: 22 May 2000 12:55 BST
Kingston Communications will invest £75m into a partnership with Colt telecoms.
Steve Maine, CEO of Kingston Communications, said the two companies will share construction of a national fibre-optic network that will give Kingston 70 per cent coverage of the UK.
The Hull-based telco, which owns the local loop in the region, also announced a 78 per cent fall in profits today for the year ending 31 March 2000. It claimed the fall in profits was largely due to expanding network investment programmes and investment in new start-up ventures.
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