By Ed Frankl

Allianz SE said Friday that it would invest 1 billion euros ($1.12 billion) in fibre-optic network rollout in Austria.

The German insurer said its subsidiary Allianz Capital Partners entered into an agreement with infrastructure company Oesterreichische Glasfaser-Infrastrukturgesellschaft to connect up to 1 million households to the fibre-optic network by 2030.

Allianz has been involved in deploying fibre infrastructure since 2019, it said.

Write to Ed Frankl at edward.frankl@dowjones.com

(END) Dow Jones Newswires

November 26, 2021 05:11 ET (10:11 GMT)

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