A new investor for German fibre-optic network operator Glasfaser Direkt has been found in CarMa networks and the insolvency proceedings have been concluded.
“This pleasing development is the result of cooperative and constructive collaboration between all parties involved. The issue of broadband deployment is currently playing a major role in Germany. We are pleased to have found a solution for the company that will enable it to continue its business operations,” said restructuring expert Dr Mark Boddenberg of the insolvency law firm Eckert, who accompanied the proceedings as general negotiator.
“As part of the CarMa Group, the company will in future have the opportunity to continue its existing projects, to take on new fibre-optic rollout projects and thus to drive forward broadband deployment nationwide,” added André Laner of consultancy Ebner Stolz, which accompanied the proceedings and the corporate transaction.
Carrier Management Holding (CarMa) is a strategic investor with a focus on the telecommunications industry. The German company now intends to contact the affected cities and municipalities as soon as possible in order to jointly coordinate the next steps.
Glasfaser Direkt had filed for insolvency at a court in Cologne on February 9, 2023. The reasons for the move were the changed market situation and the associated challenges such as inflation, supply chain difficulties and increased construction and material costs, as well as the withdrawal of British investor John Laing from fibre-optic rollout in Germany.
