Orange Polska has announced the creation of a 50-50 co-owned FiberCo with pension fund manager APG.
The joint venture will support the rollout of fibre networks in Poland in areas which are currently poorly served by very high-speed broadband infrastructure. The deployment will see 1.7 million homes passed over the next five years.
The transaction values the joint venture at 2,748 million PLN (605 million euros) following a competitive process aimed at seeking out a long-term partner. As a result, Orange Polska will receive 1,374 million PLN (303 million euros) from APG, of which 65% will be transferred on closing and the rest between 2022 and 2026 as the deployment plan advances.
Mari-Noëlle Jégo-Laveissière, Deputy CEO of Orange in charge of European Operations (outside France), said: “This partnership with APG is excellent news for Orange Polska. APG is a global leader in infrastructure management and will provide us with the financial backing necessary to achieve our ambitious five-year fiber roll-out program in Poland.
“Together we will be able to bring fiber to an additional 1.7 million homes mainly in areas that still lack reliable internet access across the country. This ambition will be backed with a tried-and-tested business model that aims to maximize available revenues by opening-up wholesale access to third-party operators. This is a clear win-win for everybody that will also contribute to social and economic development in the country.”