Allianz is preferred bidder for broadband expansion in Lower Austria
The Niederösterreichische Breitband-Holding, which is an entity controlled by the Federal State of Lower Austria, has selected Allianz represented by Allianz Capital Partners as preferred bidder to jointly work on the broadband expansion in the rural areas of Lower Austria.
The project includes the roll out of a new fibre-to-the-home (“FTTH”) broadband network to around 100,000 homes between 2020 and 2022 with a focus on municipalities with less than 5,000 inhabitants. This investment opportunity has attracted significant interest from institutional investors. The investment volume is expected to amount to c. EUR 300 million.
“We are pleased to have emerged as the preferred bidder from this process. In the coming months, the final details will be clarified with our partner. We are convinced that together we can make an important contribution to supply rural areas of Lower Austria with truly fast broadband access via fibre-to-the-home. This infrastructure we are jointly setting up with the Federal State of Lower Austria will provide essential services for the public that will ensure the future attractiveness of these areas”, says Christian Fingerle, Chief Investment Officer at Allianz Capital Partners.
Allianz just recently invested in the further development of France´s FTTH business.
The details of the project will be clarified in the next two months followed by the signing between the Federal State of Lower Austria and Allianz Capital Partners. The transaction is expected to reach financial close by the end of the year.