Vodafone to invest 2 billion euros in German fiber connections
Vodafone Germany CEO, Hannes Ametsreiter, commented: "I am excited to announce this transformational investment plan for Germany, which will bring Gigabit broadband services to millions of consumers and businesses.
"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.
"I am confident that these largely success-based investments will deliver incremental revenue growth and attractive returns for Vodafone’s shareholders."
Vodafone today announces its intention to invest approximately €2 billion in Gigabit ultrafast fibre broadband services in Germany over the next four years, delivering around 13.7 million Gigabit connections for both consumers and businesses.
This investment will allow local enterprises and communities of all sizes to move away from slow copper-based Internet services.
Today, 25% of broadband connections are still below 50Mbps, with only 2% of all broadband connections at Gigabit speeds; and the number of enterprise bids that include fibre has doubled since last year.
With speeds of up to 1 gigabit (1,000 megabits) per second, this investment will revolutionise the digital experience of homes and businesses across Germany.
The Gigabit Investment Plan comprises three related initiatives, which in aggregate are expected to create around 13.7 million new gigabit connections. ■