Telefónica and Allianz will create a 50-50 joint venture company to deploy Fibre-to-the-Home (FTTH) in Germany. The joint venture will operate as a neutral, wholesale provider and will build local fibre optic networks in underserved rural and semi-rural areas across Germany. The ambition is to pass more than 2 million homes with fibre network surpassing 50,000 kms, representing an overall investment of up to EUR 5 billion during the 6 year deployment period.
Telefónica Group’s participation will be held through Telefónica Infra (its infrastructure unit) holding 40% and Telefónica Deutschland / O2 holding a 10% stake. Allianz Capital Partners will invest 50% in the joint venture on behalf of Allianz insurance companies and the Allianz European Infrastructure Fund.
This venture in Germany follows Allianz’s commitment to significant fibre roll-outs in France and Austria. Allianz is one of the world´s leading insurers and investors.
Ángel Vilá, Chief Operating Officer at Telefónica Group, commented “We are very enthusiastic about the opportunity to partner with Allianz, one of the world’s largest investors with whom we share the ambition to drive fibre roll out in Germany, contributing to accelerate the country’s digital development. We are delighted to put our expertise behind this partnership, joining forces with Allianz as a key element for success, strengthening Telefónica Infra’s value proposition and reinforcing the strategy presented by Telefónica a year ago.”
