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Virgin Media to add 500k homes to cable network

Virgin Media plans to connect about half a million more premises to its network in the next few years in the first significant expansion of cable coverage since the 1990s.

The firm hopes if it targets the expansion carefully it will get a good return for a relatively small investment.

The first 50,000 homes and businesses are scheduled to be added this year, CEO Neil Berkett told investors. The network currently passes 12.5 million - about 50 per cent - of premises nationwide, mostly in urban areas.

Because it is saddled with massive debts from the various regional companies who borrowed billions to lay the cable network, Virgin Media's expansion will focus on places where ducts are already in the ground and new developments where civil engineering costs will be low.

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