Administrators reveal financial details of Voneus’ acquisition of Airband

Airband, the rural broadband provider backed by Aberdeen and HSBC, entered administration on 27 August and was sold immediately to rival Voneus. Administrators have now disclosed the sale went through for just £4.6 million against £312.3 million of creditor claims, with Aberdeen's investment fund losing more than £228.8 million in secured debt alone and 135 employees transferring under TUPE.

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