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Vodafone Group PLC on Wednesday said it has completed the sale of 50% of its German fibre-to-the-home company to Altice Ltd as part of a joint venture. The Berkshire, England-based telecommunications company said the JV, which received European Commission approval in February, will see FibreCo deploy fibre-to-the-home to about seven million homes in Germany over six years. Vodafone said FibreCo will invest around €7 billion, to be partly financed by debt, which will be non-recourse to Vodafone and Altice. Debt facilities of €4.6 billion have been arranged to support the deployment of FibreCo’s fibre network. Vodafone will receive €1.2 billion in cash as part of the transaction, including €120.0 million upfront, the company had said back in October. Vodafone shares were down 0.6% trading at 98.11 pence per share on Wednesday morning in London. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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