Orange Polska has formed a €605 million ($719 million) 50-50 joint venture with APG Group, one of the world’s largest independent pension fund managers, to roll out fiber in underserved areas of Poland.
The partners will target areas where access to very high-speed broadband infrastructure is limited or nonexistent, integrating 2.4 million lines and 1.7 million households over the next five years.
Under the partnership, Orange Polska will receive €303 million ($360 million) from APG, of which 65 percent will be transferred on closing and the rest between 2022 and 2026.
“APG is a global leader in infrastructure management and will provide us with the financial backing necessary to achieve our ambitious five-year fiber roll-out program in Poland,” said Mari-Noelle Jego-Laveissiere, deputy CEO of Orange in charge of European Operations outside France. “This is a clear win-win for everybody that will also contribute to social and economic development in