Vodafone Plans €7 Billion German Fiber Venture With Altice
- Joint venture plans fiber optic lines to up to 7 million homes
- New company plans to finance some 70% of cost through debt
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Vodafone Group Plc will roll out fiber to the home in Germany in a deal with Altice Europe NV to share a €7 billion ($7 billion) investment in its biggest market.
The 50-50 fiber venture with French billionaire Patrick Drahi’s Altice will build fiber optic lines to as many as 7 million homes in Germany, the companies said in a statement Monday. About 70% of the cost will be financed through debt raised against the new company, they said. The deal is expected to close in the first half of next year.