KKR & DTCP LAUNCH FIBRE INFRASTRUCTURE IN THE NETHERLANDS
PRESS RELEASE: THE HAGUE, Netherlands – KKR, a global investment firm, and DTCP, an investment management platform focusing on digital infrastructure and growth equity, have announced the launch of Open Dutch Fiber and a strategic agreement between Open Dutch Fiber and T-Mobile Netherlands.
Open Dutch Fiber, an independent platform majority owned by KKR and with DTCP as minority shareholder, will deploy Fibre-to-the-Home (“FttH”) broadband in the Netherlands across urban and higher population density areas, delivering high-quality fibre connections to Dutch households and businesses.
The platform has an open architecture and will make wholesale fibre services available to all operators. Open Dutch Fiber will begin operations in Q2 2021 with a fully-funded commitment for an envisaged capital expenditure of approximately €700 million and construction agreements already in place.
Open Dutch Fiber will be led by Jordi Nieuwenhuis and Uwe Nickl. Jordi and Uwe have a proven track record of delivering rapid, high-quality and cost-effective programmes to deploy fibre broadband. Most recently they were co-CEOs of Deutsche Glasfaser in Germany, supporting the rollout of next-generation digital infrastructure to more than 1 million homes and 6,000 businesses. Prior to his role at Deutsche Glasfaser, Jordi co-founded Reggefiber in the Netherlands. They will be joined at Open Dutch Fiber by Michael Griffioen as CEO, who will oversee the company’s day-to-day operations.
To support the rollout, Open Dutch Fiber has signed an agreement with T-Mobile Netherlands, the leading mobile operator and FMC challenger in the Netherlands. T-Mobile Netherlands, which currently has a mobile base of 6.8 million customers and a fixed base of 682,000, will be the anchor tenant for Open Dutch Fiber with a 20-year agreement.
Jordi Nieuwenhuis, co-founder of Open Dutch Fiber, said: “High-quality and reliable fibre connectivity is essential for the Netherlands and this has only been accelerated with the structural changes to working patterns of companies and citizens brought about by the COVID-19 crisis. We are building a digital infrastructure platform with open access to all operators, to ensure an efficient and rapid deployment of capital resources, while avoiding uneconomical overbuild. We look forward to making a significant contribution to the digitization of the Netherlands to benefit Dutch households and businesses.”
Cristina González, Managing Director in KKR’s EMEA Infrastructure team, said: “We are excited about the opportunity ahead for Open Dutch Fiber as an independent FttH platform in the Netherlands, and one which will support the rollout of critical infrastructure for Dutch society. KKR will support Open Dutch Fiber with capital and deep expertise in delivering large-scale fibre deployment programmes.”
“The creation of Open Dutch Fiber is an important milestone in the acceleration of fibre rollout in the Netherlands and a blueprint for innovative financing solutions in European digital infrastructure. We are firm believers in the sharing of digital infrastructure and are establishing Open Dutch Fiber as an open access model, enabling attractive economics for operators and best prices for consumers. We look forward to the collaboration with our partners”, said Vicente Vento, Co-Founder and CEO of DTCP.
KKR will be making the investment through its Global Infrastructure Investors Funds. KKR first established its Global Infrastructure strategy in 2008 and has since been one of the most active infrastructure investors around the world with a team of more than 50 dedicated investment professionals. The firm currently manages over $27 billion in infrastructure assets and has made over 40 infrastructure investments across a range of sub-sectors and geographies. Open Dutch Fiber will benefit from KKR’s expertise in digital infrastructure and fibre deployment, following similar recent investments in Deutsche Glasfaser in Germany, Hyperoptic in the UK and FiberCop in Italy.
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