Vodafone and Altice formed a collaboration to construct a 7 billion euro ($6.8 billion) fiber broadband network in Germany.
The FibreCo partnership, according to Vodafone, will create a “fiber-to-the-home” broadband network that will be accessible to 7 million German homes. This will enable the British company to upgrade its current network in Germany, which is its largest market.
“This partnership builds on Vodafone’s significant next-generation network with Altice’s industrial expertise and proven fiber-to-the-home construction capabilities,” said Nick Read, Vodafone’s Chief Executive.
The six-year project, which will involve an investment of up to 7 billion euros from FibreCo, is anticipated to be financed to a debt level of 70%.
Altice subsidiary Geodesia will be in charge of construction, with Vodafone Germany in charge of marketing the faster broadband to new customers.
Both companies will own 50% of FibreCo, and the transaction is subjected to undergo regulatory approval, which is expected to be completed in the first half of 2023.
