Press Release*
Berlin, 11 October 2023. Tele Columbus AG, one of the leading operators of fiber-based networks in Germany, received binding commitments for additional capital totaling almost 100 million euros to speed up its growth strategy.
As previously announced on 31 August 2023, Tele Columbus AG received binding commitments for additional capital (subject to certain termination rights). Together with the €15 million shareholder loan made in July 2023, these now total almost 100 million euros and support the group’s liquidity to enable its growth strategy through the transformation to a highly utilized fiber optic network. The loans are provided by an affiliate of the main shareholder. These commitments are in addition to a capital increase of 75 million euros at the end of 2022. The (indirect) shareholders are generally prepared to make further investments.
The fiber strategy has already been consistently implemented in numerous cities, such as Berlin, Potsdam, Leipzig, Munich and Hamburg. Tele Columbus is currently fast expanding its existing network to make it future-proof with fiber optics into the home (FTTH). In addition, the coaxial networks will be upgraded to gigabit speeds in those areas where fiber optics will be expanded into the home in a second step. The new PŸUR TV platform will also launch in autumn 2023. The focus is on convenience and flexible use in terms of access, navigation and content recommendations. The intensification of the various marketing activities for high network utilization is also being pushed forward and is associated with corresponding additional investments. Overall, it is planned to invest over 2 billion euros in the network infrastructure within a period of ten years.
Markus Oswald, CEO of Tele Columbus AG: “This is an important step and a clear signal to our partners in the housing industry, to our customers, interested parties and suppliers. With the additional capital available, the path we have taken to becoming a leading operator of fiber-optic networks will be consistently continued.”
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