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Share Name Share Symbol Market Type
Telefonica Deutschland Holding AG XE:O2D XETRA Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 2.534 2.525 2.528 0.00 00:00:00

Telefonica Deutschland, Allianz, Telefonica Form Fiber-Deployment Joint Venture in Germany

29/10/2020 7:07am

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Telefonica Deutschland (XE:O2D)
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   By Mauro Orru 
 

Telefonica Deutschland Holding AG said Thursday that it has agreed to set up a joint venture with Telefonica SA and Allianz SE to deploy fiber-to-the-home internet in Germany for a combined investment of up to 1 billion euros ($1.17 billion).

The German telecommunications company said Telefonica and Allianz would initially hold 50% each in the joint venture company, Unsere Gruene Glasfaser GmbH & Co. KG, with Telefonica Deutschland investing up to EUR100 million over six years for a 10% stake in the joint venture.

The transaction is expected to close in the first half of 2021.

 

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

 

(END) Dow Jones Newswires

October 29, 2020 02:52 ET (06:52 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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