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The eastern England broadband network has received £1bn of investment from Mikhail Fridman s LetterOne vehicle Upp said it is extensively using Openreach s infrastructure BT Group PLC (LON:BT.A) is facing increased competition from various directions, with reports that a Russian billionaire is funding the rollout of a rival superfast broadband network coming a day after newly merged rival Virgin Media O2 set out its plan to “shake up the market”. Upp, which is planning to roll out full-fibre broadband in eastern England, has announced that LetterOne investment group has taken up its £1bn equity financing in full. LetterOne is controlled by Mikhail Fridman, a Ukranian-born,

City ofUnited kingdomDeutsche glasfaserPeter kamphuisPippa dunnRobert eastonMikhail fridmanLutz schuelerNorth london basedAndrew ritchieOrange united kingdomJason goodallBig capsEdia publishing t3Bt group plcLon bt a