Allianz: one billion euros for fiber in Austria

(CercleFinance.com) - German insurance giant Allianz announced on Friday that it will invest one billion euros in the development of fiber optics in Austria.


The Munich-based group said it had reached an agreement, through its asset management subsidiary Allianz Capital Partners, with the Austrian fiber-to-the-home (FTTH) network oeGIG.

The 1 billion euro package - which will be offered to oeGIG in the form of equity - is intended to finance the infrastructure needed to roll out fiber to one million homes by 2030, Allianz said.

The project is intended to make oeGIG, a fairly new company that was founded in 2019, and which belongs to the Allianz group, one of the first fiber network operators in Austria.


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