Telekom Austria announced additional investments of up to EUR 400 million for its ongoing broadband rollout in Austria.
“Following the successful conclusion of the capital increase of EUR 1 billion, trading of the new shares on the Vienna Stock Exchange commenced as of today. Our next important item on the agenda with regard to the allocation of the new funds mainly concerns investments in our core markets. In our domestic market, Austria, given the right framework conditions, additional investments of up to EUR 400 million will boost broadband rollout. In this way, we are equipping the country with the necessary infrastructure to meet the challenges lying ahead in the 21st century, while setting important impulses for economic growth and job creation,” said Hannes Ametsreiter, CEO Telekom Austria Group and A1.
Telekom Austria also said the infusion of cash will give it the option to pursue strategic acquisitions, inline with the following priorities: (i) in-market consolidation to strengthen existing operations; (ii) the continued pursuit of Telekom Austria Group’s convergence strategy to diversify in markets that are currently mobile-only as well as to enhance existing convergent operations; and (iii) expansion via new operations.
http://www.telekomaustria.com/
In October, Telekom Austria Group’s A1 domestic subsidiary, together with its technology partner Alcatel-Lucent, demonstrated G.fast running a several hundred megabits per second. Currently, G.fast is still in a testing phase at A1 and the launch of commercial operations is expected in 2016.
