Sep 11, 2017

Vodafone to invest €2bn building ultrafast broadband in Germany

Vodafone has committed €2bn to building ultrafast fibre-optic cable internet services in Germany, in the latest sign of its ambitions to bring together broadband, mobile and TV services across Europe. The plan involves expanding its footprint in rural and corporate settings in Germany, as well as accelerating speeds on its own existing cable footprint of 12.6m homes, through an incremental investment of €0.2bn. "I am excited to announce this transformational investment plan for Germany, which will bring gigabit broadband services to millions of consumers and businesses," said Hannes Ametsreiter, chief executive of Vodafone Germany. "The project is consistent with our strategic goal to become a leading converged communications operator in Germany, enabled by a best-in-class gigabit network infrastructure." The company expects the investment to drive up Vodafone Germany's service revenue growth rate by up to 2 percentage points, starting from the 2019-2020 financial year. The operator already has a significant presence in the German broadband market due to its 2013 acquisition of Germany's largest cable operator Kabel Deutschland for €7.7bn. "We think this makes strategic sense, offering low execution risk but a high payback," said analysts at Jefferies.

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