Germany’s Tele Columbus has received binding commitments for additional capital totalling almost €100 million.
The fibre operator said the funds would speed up its growth strategy.
The funding comprises commitments made in July and August this year and will be used to develop its fibre optic network. The loans are provided by an affiliate of the main shareholder. These commitments are in addition to a capital increase of 75 million euros at the end of 2022.
Markus Oswald, CEO of Tele Columbus AG: “This is an important step and a clear signal to our partners in the housing industry, to our customers, interested parties and suppliers. With the additional capital available, the path we have taken to becoming a leading operator of fibre-optic networks will be consistently continued.”
The Tele Columbus fibre strategy has already been consistently implemented in numerous cities, such as Berlin, Potsdam, Leipzig, Munich and Hamburg. Tele Columbus is currently fast expanding its existing network to make it futureproof with fiber optics into the home (FTTH).
In addition, the coaxial networks will be upgraded to gigabit speeds in those areas where fiber optics will be expanded into the home in a second step.
The new PŸUR TV platform will also launch in autumn 2023.
Tele Columbus plans to invest over 2 billion euros in the network infrastructure over the next ten years.
