Altice: to create joint venture with Vodafone

(CercleFinance.com) - Vodafone is set to create a joint venture with Altice to accelerate the adoption of Fibre To The Home (FTTH) in Germany.
Equal shares of this new company will be held by the two telecoms giants.

Its role will consist of building and operating a vast fibre network to reach up to seven million households. The two groups indicate that they intend to invest seven billion euros under the project.

Under the terms of the agreement, Altice will pay 1.2 billion euros to Vodafone, an amount that includes an initial payment of 120 million euros, stage payments of 487 million euros and potential additions of around 595 million euros.

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