FILE PHOTO: Internet LAN cables are pictured in this photo illustration taken in Sydney June 23, 2011. REUTERS/Tim Wimborne/File Photo
ZURICH (Reuters) – Swiss telecoms operator Sunrise Communications Group and French billionaire Xavier Niel’s Salt Mobile on Tuesday pledged to invest up to 3 billion Swiss francs ($3.09 billion) in a broadband partnership aimed at reaching 1.5 million homes by 2027.
Sunrise, blocked by shareholders last year from buying Liberty Global’s Swiss UPC unit, is again pursuing a outside help, this time through a joint venture, as it seeks to compete with state-owned Swisscom, Switzerland’s largest telecommunications provider.
Chief Executive Andre Krause, the former CFO who survived the UPC deal’s failure to become Sunrise’s top manager, said this new project, called Swiss Open Fiber, would be a joint venture co-owned equally by Salt and Sunrise, as well as a prospective equity partner.
Swiss Open Fiber will work with Swiss Fibre Net, an…
Source Reuters Tech News
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