News
Joint venture agreed between Deutsche Telekom and IFM Investors to expand FTTH coverage in rural areas in Germany.
Deutsche Telekom has announced a 50-50 joint venture with IFM, an Australian investment firm, to create GlasfaserPlus GmbH.
IFM will invest through its IFM Global Infrastructure Fund and its 50% stake will be worth 0.9 billion euros.
According to Deutsche Telekom, the partnership will enable the organisation to increase its planned fibre optic investments from 2.5 billion euros by 2024 to more than 30 billion euros by 2030.
With headquarters in Cologne, GlasfaserPlus will operate its fibre network on an ‘open access’ model which will be open to Deutsche Telekom and its competitors. Deutsche Telekom will also sign a wholesale agreement with GlasfaserPlus at closing.
Subject to receiving the relevant regulatory approvals, it is expected that the joint venture will start rolling out its networks next year. The entity aims to build FTTH connections to 4 million German homes by 2028.
Srini Gopalan, Board Member for Germany and Managing Director of Telekom Deutschland, said: "Partnerships are indispensable for the successful digitisation of our country. We are therefore very pleased that we were able to attract IFM GIF for our joint venture. This is a clear commitment to Germany as a business location and a signal that we will work together to build the digital backbone of our future society.”
Join us in Mainz, Germany on 7th and 8th December for Connected Germany 2021. The conference is the ideal forum to understand the evolution of the German connectivity landscape and to meet with the key players delivering next-generation networks throughout Germany.
