IFM Investors and Deutsche Telekom have launched a 50-50 joint venture to increase fiber-to-the-home coverage in rural Germany.
The companies have created GlasfaserPlus, headquartered in Cologne, Germany, to carry out the investments. The partnership will enable the organization to increase its planned fiber-optic investments from €2.5 billion ($2.9 billion) by 2024 to more than €30 billion ($35 billion) by 2030.
IFM will invest in the partnership via its IFM Global Infrastructure Fund, which targets energy, social-infrastructure, transport, and water-and-wastewater sectors.
The joint venture is expected to begin rolling out its networks next year, with the goal of connecting 4 million German homes with fiber by 2028.
