Allianz Capital Partners Invests 1 Billion Euros for Austrian Fibre Network
Posted on 11/26/2021
Allianz Capital Partners, on behalf of Allianz Insurance Companies and the Allianz European Infrastructure Fund, entered into an agreement with Oesterreichische Glasfaser-Infrastrukturgesellschaft (oeGIG) for the financing of the roll-out of fibre-to-the-home in Austria. Allianz will provide approximately €1 billion of equity for the deployment of fibre in Austria in order to be able to connect through öGIG up to one million households to the fibre optic network by 2030. This will make oeGIG one of the largest fibre network providers in Austria. oeGIG is part of Allianz Group and has been operating as a telecommunications infrastructure company in Austria since 2019. The goal is to provide in particular rural regions with fast fibre internet.
Allianz has already been involved in deploying fibre in Austria since 2019. Allianz holds via öGIG jointly with the State of Lower Austria a stake of close to 75% in Niederoesterreichische Glasfasergesellschaft (noeGIG). Since April of this year, oeGIG has also been cooperating with the broadband initiative of the State of Carinthia to promote the fibre optic expansion in this region. In addition to Austria, Allianz is already invested in the roll-out of fiber networks to millions of households in several countries, including Germany and France.
Keywords: Allianz SE.
