Greg Mesch reaches across the table and hands me a piece of plastic-coated cable, not much thicker than a kettle flex. “That’s 3,000 homes right there,” beams the boss of broadband upstart City–Fibre, gesturing to the cable that contains 100 glass filaments — each one able to deliver lightning-fast internet to hundreds of families and small businesses.
The straight-talking American believes this technology could spur the regeneration of hitherto neglected parts of Britain. His investors have more straightforward aims. Neil Woodford, the high-profile stock-picker, and the hedge fund tycoon Crispin Odey are among those betting that CityFibre can profit handsomely at the expense of embattled BT.
Earlier this month, Mesch announced a deal that provides a chance to put his hypothesis to an extensive test.