Allianz: JV in fiber with Telefonica

(CercleFinance.com) - Allianz announced on Thursday the launch of a 50/50 joint venture with Spain's Telefonica to deploy fiber in the most remote areas of Germany.


The German insurer says it has reached an agreement with the Spanish telecom operator to install fiber to the home (FttH) in hitherto underserved rural or semi-rural areas.

This wholesale service will then be offered to telecom service providers wishing to offer fiber to their end clients.

The joint venture plans to invest up to 5 billion euros in the project, which is expected to connect over 2 million households through the installation of some 50,000 kilometres of lines.


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