By Mauro Orru
Orange said Monday that its Polish business Orange Polska agreed to establish a fiber-rollout joint venture with APG valued at 605 million euros ($720 million).
The French telecommunication company said Orange Polska would receive EUR303 million from APG, with 65% to be transferred on closing and the rest between 2022 and 2026.
The 50-50 joint venture is set to bring fiber to an additional 1.7 million homes in Poland over the next five years.
"APG is a global leader in infrastructure management and will provide us with the financial backing necessary to achieve our ambitious five-year fiber rollout program in Poland," said Mari-Noelle Jego-Laveissiere, Orange's Deputy Chief Executive in charge of European operations outside France.
Write to Mauro Orru at firstname.lastname@example.org; @MauroOrru94
(END) Dow Jones Newswires
April 12, 2021 02:40 ET (06:40 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.