(Belga) British telecoms group Vodafone and France’s Altice announced in a press release on Monday the creation of a joint venture to deploy a six-year fiber optic network in Germany, a project that will require an investment of 7 billion euros.
Named FibreCo, this joint venture will be 50% owned by Vodafone Germany and 50% by Altice (SFR), Britain said in its press release. The project extends over six years to reach 7 million families. During the publication period, FibreCo intends to invest up to 7 billion euros, of which 70% will have to be financed by debt. “This partnership leverages Vodafone’s extensive next-generation network with Altice’s industrial expertise (…) This significant investment in infrastructure supports the social, economic and digital development of the country and the German government’s ambitions for the broadband provider as part of the goals of the European Digital Contract” commented Nick Reed, President CEO of Vodafone Group. “We have pioneered fiber joint ventures in France and Portugal, so we are delighted to be able to replicate such a feat in Germany with such a partner,” said David Drahy, Altice co-CEO. (Belga)
