IFM Global Infrastructure Fund, Deutsche Telekom to roll out gigabit fibre broadband in rural Germany
IFM GIF will acquire a 50 percent stake in the fibre roll out company GlasfaserPlus GmbH for €0.9 billion.
The agreement brings together Deutsche Telekom and IFM Investors, through IFM GIF a leading long term investor in essential infrastructure assets, owned by a group of Australian pension funds.
GlasfaserPlus will be headquartered in the Cologne area and is expected to build FTTH connections to more than four million homes across Germany from 2022 to 2028. GlasfaserPlus will operate its fibre network under an “open access” model and make its network open to Deutsche Telekom as well as its competitors on a non discriminatory basis. Deutsche Telekom will sign a wholesale agreement with GlasfaserPlus at closing.
Subject to relevant regulatory approvals, the joint venture will roll out fibre optic networks from 2022 and also participate in government subsidy tenders. ■