Spain's Telefonica, one of the largest telecommunications companies in the world, is in advanced talks regarding a €5 billion ($5.8 billion) fiber optic deal in underserved areas of Germany, sources with knowledge of the matter told Reuters.
Telefonica is expected to ink a deal with an anonymous infrastructure investor and financial institutions by the end of October. Banks will provide two-thirds of the capital to construct the fiber-to-the-home network in Germany. The investor will provide the remaining equity.
Telefonica operates in 14 countries and had revenues totaling €48.4 billion ($56.9 billion) as of January, according to the company’s website.
