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Allianz To Invest 1 Bln Euros To Launch Fibre Network In Austria

Investor and a partner for alternative assets, Allianz Capital Partners (AZSEY.PK), on behalf its Allianz Insurance Companies and the Allianz European Infrastructure Fund, has signed a one-billion- euros agreement with Oesterreichische Glasfaser-Infrastrukturgesellschaft, to fund the launch of fibre-to-the-home service in Austria.

According to the deal, Allianz will provide around one billion euros of equity for the deployment of fibre in Austria in order to be able to connect through öGIG up to one million households to the fibre optic network by 2030.

Michael Pfennig, Co-Head of Infrastructure at Allianz Capital Partners (ACP), commented: "The Corona pandemic has once again confirmed the importance of fibre. As one of the largest infrastructure investors worldwide, we are delighted to be able to make an important contribution to the digitization in Austria with the long-term pension and insurance capital of our customers and further investors."

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