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T-Mobile Netherlands, KKR to invest 700 million euros in fibre optic

·1-min read

AMSTERDAM (Reuters) - T-Mobile Netherlands said on Wednesday it will invest at least 700 million euros ($832 million) to build and offer fibre optic networks in Dutch cities together with Open Dutch Fibre, a joint venture between KKR Infrastructure and Deutsche Telecom Capital Partners.

The project aims to reach 1 million households within five years, it said.

T-Mobile competes against KPN and VodafoneZiggo in the Netherlands.

In March, KPN announced a 440 million euro partnership with pension fund giant ABP to speed up its fibre optic rollout, targeting customers in under-served areas.

KPN, which says it already reaches one third of the Netherlands' 8 million households, plans to reach another 2.5 million by 2026.

($1 = 0.8417 euros)

(Reporting by Toby Sterling; editing by Jason Neely)