Greenberg Traurig advised Altice on the formation of a joint venture with Vodafone Group Plc (Vodafone) to build a nationwide fiber-optic-to-the-home network. The joint venture, in which each company will hold a 50 percent stake, will invest up to EUR 7 billion in fiber rollout in Germany. Over a period of six years, approximately seven million households are to be supplied with fiber-optic lines. The purchase price to be paid by Altice for the stake is up to EUR 1.2 billion.
To select the partner for the joint venture, Vodafone conducted a bidding process in which the international telecommunications and media group Altice prevailed. The company has connected more than 46 million households over fiber and mobile broadband networks in France, Portugal, Israel, and the Dominican Republic, among other countries, and already operates fiber infrastructure joint ventures in France, Portugal, and Israel. Altice has so far been active in state-of-the-art fiber technology expansion in Germany through its subsidiary Geodesia.
Greenberg Traurig's lawyers, together with lawyers from the French law firm De Pardieu in Paris, advised Altice throughout the bidding process to the conclusion of the joint venture agreements. They provided comprehensive advice on the drafting of the contractual implementation of the joint venture as well as all operational agreements on the fiber rollout and network operation by the joint venture.
By supporting Altice with its market entry as a network operator in Germany, the Greenberg Traurig team demonstrated its knowledge in the future market of fiber optics. By advising the international telecommunications provider, it is bridging the gap between traditional advice to the housing industry and strategic advice to large telecommunications and infrastructure providers.