Telefonica Deutschland, Allianz, Telefonica Form Fiber-Deployment Joint Venture in Germany
October 29 2020 - 2:07AM
Dow Jones News
By Mauro Orru
Telefonica Deutschland Holding AG said Thursday that it has
agreed to set up a joint venture with Telefonica SA and Allianz SE
to deploy fiber-to-the-home internet in Germany for a combined
investment of up to 1 billion euros ($1.17 billion).
The German telecommunications company said Telefonica and
Allianz would initially hold 50% each in the joint venture company,
Unsere Gruene Glasfaser GmbH & Co. KG, with Telefonica
Deutschland investing up to EUR100 million over six years for a 10%
stake in the joint venture.
The transaction is expected to close in the first half of
2021.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
October 29, 2020 02:52 ET (06:52 GMT)
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