1&1 Versatel, one of the leading German telecommunications providers for business customers, has entered into an agreement to acquire BT's four fiber optic city networks in Germany. The deal includes BT's city networks in Munich, Frankfurt, Dusseldorf and Stuttgart, totalling a length of 1,590 km.
1&1 Expansion
The 1&1 fiber optic network continues to expand strategically with the acquisition of the four city networks in Munich, Frankfurt, Dusseldorf, and Stuttgart. As many companies in more than 300 German cities already benefit from the services, this deal will further expand Versatel's fiber Network reach.
Although the deal is a sale and leaseback agreement with BT keeping access to the offloaded networks, the financial details of the transaction have not been disclosed.
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"The investment in the four city networks is another step on the way to becoming the leading provider of fiber optics for companies," says Dr. Soren Trebst, CEO of 1&1 Versatel, about the acquisition.
As part of its focus on providing global network, cloud, and security solutions for multinational companies and international organizations, BT is selling the four city networks. BT has a strong nationwide presence in Germany, and despite the sale, it will continue to use the infrastructure to provide communication services to its business customers in the country.
1&1 Versatel said the acquisition would be finalized when all closing conditions are met, including the transfer of the networks.
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Fiber optic expansion in Krefeld
Earlier this month, 1&1 Versatel has also started its fiber optic expansion in Krefeld. The telecommunications provider, which focuses on business customers, is now providing high-speed internet access to over 100 companies in Krefeld through direct fiber optic connections. 1&1 Versatel connects the area around Magdeburg Street with its Gigabit network.
1&1 Versatel Partners with Vattenfall Eurofiber
Both companies partnered to support their vision of gigabit strategy for the state of Berlin. As part of the partnership, 1&1 Versatel is expanding its existing gigabit network in Berlin and will also be able to provide its customers with innovative products and services via Vattenfall Eurofiber's infrastructure in the future.
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Intending to connect 500,000 households and companies to a high-performance fiber optic network by 2026, Vattenfall Eurofiber aims to make the network available to other telecommunications service providers through open access without discrimination.
