This transaction values the joint venture at PLN2,748 million (€605m) following a competitive process aimed at seeking out a long-term partner. As a result, Orange Polska will receive PLN1,374 million from APG, of which 65 per cent will be transferred on closing and the rest between 2022 and 2026 as the deployment plan advances.

This project will allow Orange Polska to pursue its ambitious fibre-optic rollout strategy by sharing investment costs.

Mari-Noëlle Jégo-Laveissière, Deputy CEO of Orange in charge of European Operations (outside France), commented: “This partnership with APG is excellent news for Orange Polska. APG is a global leader in infrastructure management and will provide us with the financial backing necessary to achieve our ambitious five-year fibre roll-out program in Poland. Together we will be able to bring fibre to an additional 1.7 million homes mainly in areas that still lack reliable internet access across the country. This ambition will be backed with a tried-and-tested business model that aims to maximise available revenues by opening-up wholesale access to third-party operators. This is a clear win-win for everybody that will also contribute to social and economic development in the country.”

Ramon Fernandez, Delegate CEO of Orange in charge of Finance, Performance and Development, added: “I am delighted that Orange, as Europe’s leading player in the FTTH fibre market and one of the largest mobile network operators, has successfully brought to fruition its three major infrastructure projects, delivering on the commitment made in our Engage 2025 strategic plan. These projects clearly underline the value of our network assets, which have been shown to be so crucial during the ongoing pandemic. By creating these independent structures, we are strengthening our leadership and fostering sustainable value creation through an optimised infrastructure management and improved customer service.”