Deutsche Telekom wants to accelerate the expansion of optical fibers in Germany and acquires a new partner for this.
A joint venture is set up with Australian company IFM Global Infrastructure with the goal of expanding an additional 4 million gigabit connections in rural and development areas by 2028. As announced by DAX Group, IFM is paying €0.9 billion for a 50% stake in the expansion company Glasfaserplus GmbH.
“By 2030, we plan to invest more than 30 billion euros in fiber optics, including investment in fiber optics, so that all households and businesses benefit from gigabit optical fiber connections,” said Srini Gopalan, who is responsible for business in the field of fiber optics. Germany on the Deutsche Telekom board of directors, in the press release. 10 million direct fiber optic connections have been achieved by the end of 2024. “Money from our Australian partner is flowing directly into future gigabit lines,” the manager said.
In the XETRA business, Deutsche Telekom paper stock temporarily rose 1.37% to €16.84.
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Image source: Juergen Schwarz/Getty Images, Deutsche Telekom AG, Northfoto/Shutterstock.com
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