EQT Infrastructure, Proximus joint venture to deploy FTTH networks in Flanders
The EQT Infrastructure V fund and Belgian service provider Proximus (Euronext Brussels: PROX) have announced the creation of a joint venture that will target the deployment of fiber to the home (FTTH) infrastructure in Flanders, Belgium. The fund initially will own 50.1% of the joint venture, with Proximus in possession of the remaining share. The partners promise to “invest significantly” in the venture.
The joint venture will begin to connect customers next year with a goal of reaching at least 1.5 million households and businesses “over the coming years.” The two companies expect the agreement to create the joint venture to close in the first quarter of 2021.
EQT Infrastructure and Proximus expect to leverage the former’s expertise from investing in other fiber-forward companies in North America and Europe with the latter’s connections in Belgium. "We are very happy to have found a strong partner in Proximus for this exciting fiber rollout opportunity in Belgium,” commented Matthias Fackler, a partner at EQT Partners. As the leading investor in digital infrastructure, EQT sees the growing need for future-proof and reliable broadband access all over the European continent. Through this partnership, we look forward to facilitating digital inclusion and sustainable economic growth in Flanders and the Belgian society as a whole."
"I am very pleased that we have signed this final agreement with EQT Infrastructure,” added Guillaume Boutin, CEO of Proximus. “This will enable us to reinforce our leading position in multi-gigabit infrastructures, in an era where reliable, next-generation fixed and mobile connectivity has become more important than ever. It also illustrates our positive attitude towards cooperation and co-investment, which will be an important trigger to guarantee a faster, broader and more cost-efficient roll-out. I'd like to congratulate the teams involved on both sides, as this agreement marks another major step forward to build the most future-proof and open network for Belgium and bring high-speed connectivity solutions to every citizen."
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Stephen Hardy | Editorial Director and Associate Publisher, Lightwave
Stephen Hardy is editorial director and associate publisher of Lightwave and Broadband Technology Report, part of the Lighting & Technology Group at Endeavor Business Media. Stephen is responsible for establishing and executing editorial strategy across the both brands’ websites, email newsletters, events, and other information products. He has covered the fiber-optics space for more than 20 years, and communications and technology for more than 35 years. During his tenure, Lightwave has received awards from Folio: and the American Society of Business Press Editors (ASBPE) for editorial excellence. Prior to joining Lightwave in 1997, Stephen worked for Telecommunications magazine and the Journal of Electronic Defense.
Stephen has moderated panels at numerous events, including the Optica Executive Forum, ECOC, and SCTE Cable-Tec Expo. He also is program director for the Lightwave Innovation Reviews and the Diamond Technology Reviews.
He has written numerous articles in all aspects of optical communications and fiber-optic networks, including fiber to the home (FTTH), PON, optical components, DWDM, fiber cables, packet optical transport, optical transceivers, lasers, fiber optic testing, and more.
You can connect with Stephen on LinkedIn as well as Twitter.