11th Nov 2019 11:33
(Alliance News) - Telefonica SA's German unit is to team up with two fellow telecommunications firm to expand the country's network.
Telefonica Deutschland said Monday that it will work with Deutsche Telekom AG and Vodafone Group PLC to build up to 6,000 new mobile sites across Germany.
The new radio masts and tower programme, Telefonica said, will "significantly" reduce time and costs compared to if the three firms worked individually.
The three invested around EUR6.5 billion into the 2019 German frequency auction, Telefonica said, and each will set up an equal number of new sites.
They firms are currently in dispute with the Federal Network Agency, whose 2019 auction required operators to invest "billions", which they regard as disproportionate and unlawful.
Telefonica says the three parties have informed the Federal Cartel Office of their plans. The regulator, it said, considers such partnerships as "essentially sensible".
Telefonica shares were 0.4% higher in Madrid on Monday at EUR6.89. Deutsche Telekom was down 1.0% at EUR15.29 in Frankfurt, and Vodafone was down 0.5% at 161.42 pence each.
By George Collard; [email protected]
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