Spanish telecom giant Telefonica is readying an alliance with the private equity arm of German insurer Allianz to finance a 5 billion euro infrastructure investment in Germany, Spanish newspaper Expansion said on Monday.
Telefonica and Allianz aim to create a joint venture half-owned by each that would invest into a fibre-optic network in Germany, the newspaper said, citing unidentified financial sources.
Reuters had reported last week that Telefonica was in the final stages of negotiating a deal with banks and an unidentified investor to build the fibre-optic network to supply under-served areas of Germany.
A spokesman at Telefonica declined to comment and a spokeswoman at Allianz was not immediately available.
Source: Reuters
Can’t stop reading? Read more
ACCESS appoints private equity managers as it builds in-house investment team
ACCESS appoints private equity managers as it builds in-house investment team ACCESS, the £52bn...
Rinkelberg Capital acquires Jus-Rol from Cérélia following CMA ruling
Rinkelberg Capital acquires Jus-Rol from Cérélia following CMA ruling Stephen French bakery group...
Blackstone’s Schwarzman supports Trump’s tariffs, eyes expansion in India’s private equity and infrastructure sectors
Blackstone's Schwarzman supports Trump’s tariffs, eyes expansion in India’s private equity and...