March 9, 2023 08.46 Europe/London By Jörn Krieger
Vodafone Group has completed the sale of 50% of its German FTTH company FibreCo to Altice. 3m Scotch Rubber Mastic Tape
The creation of the joint venture received European Commission approval last month. FibreCo plans to deploy FTTH networks to up to 7 million homes in Germany over a 6-year period.
Over the rollout period, FibreCo intends to invest up to around €7 billion, which will be partly financed by debt that will be non-recourse to Vodafone and Altice. Total debt facilities of up to €4.6 billion have been arranged with a group of leading financial institutions to support the network deployment, according to Vodafone.
Vodafone is expected to receive cash proceeds from Altice in excess of Vodafone’s share of equity contributions over time.
This partnership with Altice, announced in October 2022, is complementary to Vodafone’s upgrade plans for its existing hybrid coax-fibre cable network.
Filed Under: Finance, FTTH, Top Story Tagged With: Altice, FibreCo, Vodafone Group Edited: 9 March 2023 12:43
Jörn reports on the latest developments in Germany, Austria and Switzerland. Since 1992, he has been working as a freelance journalist, specialised in digital media, broadcast technology, convergence and new markets. He also takes up University lectureships, writes articles in specialist publications, and produces radio reports. Jörn is also a moderator of panel discussions at industry events such as ANGA COM, Medientage München and IFA Berlin.
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