Magenta boss Andreas Bierwirth no longer sees a need for public broadband subsidies. In the current market environment there is sufficient private investment.
“I don’t think financing is needed anymore. It was necessary because fiber optics had not been expanded in Austria for a long time,” Bierwirth told the “Kleine Zeitung”. At the moment there is “a gold rush mood”. Due to the low interest rates, “the very valuable countries were expanded with fiber”.
“Now it is Austria’s turn and private investors are investing money here,” said the Magenta boss. The Austrian subsidiary of Deutsche Telekom plans to invest another billion euros in broadband expansion in this country by 2025. “That’s another million households,” says Bierwirth. The T-Mobile Austria UPC network purchased in 2018 has 1.5 million households. In 2019, T-Mobile Austria and UPC Austria were rebranded as Magenta.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
