WASHINGTON (dpa-AFX) - Global investment firm KKR & Co. L.P. (KKR) and Reggeborgh or RB, a Dutch investment firm, announced a partnership for the strong expansion of Deutsche Glasfaser.
Deutsche Glasfaser plans, constructs, and operates fibre-optic networks in Germany and provides German households and companies with fast broadband connections.
KKR will acquire a majority stake in Deutsche Glasfaser, which is currently fully owned by Reggeborgh.
In a joint effort, the two partners will provide Deutsche Glasfaser with the long-term capital to embark on a growth program whereby around 450 million euros is to be invested in the further roll-out of the German fibre optics infrastructure over the next few years.
Deutsche Glasfaser focuses on the rural and suburban parts of Germany and is active across the entire value chain, from passive to active infrastructure up to acting as an internet service provider.
It has already connected about 100,000 German households and companies to its fibre-optic network, which is the fastest broadband access technology in the world.
With its planned investments, Deutsche Glasfaser will help to connect more people with its high-speed fibre-optic network and thereby support the German government in its ambition to achieve 100 percent broadband coverage with at least 50 megabit per second by 2018.
Copyright RTT News/dpa-AFX