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Spain's Jazztel to boost fibre optic investment plan

Reuters - UK Focus

MADRID, July 24 (Reuters) - Spanish telecoms group Jazztel is expanding its fibre optic network investment, saying on Thursday it aimed to connect 7 million homes, a target which would bring it closer to the scale of offerings from Telefonica and Vodafone.

The company said it would detail the new plan by the end of the year and aimed to have 2.2 million homes connected to its Fibre To The Home (FTTH) network by the end of July, on course to meet by year end its original target of 3 million homes connected.

Telefonica plans to connect 10 million homes to its own fibre network by year-end, while Vodafone has acquired cable firm Ono, which already connects 7 million homes.

Vodafone said on Wednesday it would keep building up its network, adding a further 2 million homes through a partnership with Orange (Other OTC: FNCTF - news) which also foresees the possibility for the French company to access the Ono network on a wholesale basis for another 1 million homes.

Many analysts bet on a tie-up between Orange and Jazztel (Other OTC: JAZTF - news) , Spain's third- and fourth-biggest operators, as the only way for the two companies to compete better with heavyweights Telefonica and Vodafone. (Reporting by Julien Toyer; Editing by David Holmes)