On average in the EU, half of the population is already connected to a fiber optic connection.
(Photo: dpa)
Frankfurt, Hamburg According to financial circles, Westnetz, which belongs to Germany’s leading supplier Eon, has started looking for an investor to help finance a three billion euro fiber optic expansion program. The investment bank Barclays, on behalf of Westnetz, wants to provide potential interested parties with information about the project shortly, said people familiar with the matter.
According to the plans, financiers such as specialized infrastructure funds can participate in half of the equity share of the project. About a third of the investment sum is to be financed with equity and the rest with debt capital, said one of the people. Eon and Barclays both declined to comment.
To date, Westenergie has had a 10,000 kilometer fiber optic network, providing a good one million residents with fast internet. Assuming costs similar to those of Deutsche Telekom, two million additional customers could now be connected.
Germany is one of the tail lights in a European comparison
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