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Jazztel projects growth after fiber optic investment

Source: Reuters - Thu 14th Mar 2013
Jazztel projects growth after fiber optic investment

Spanish broadband provider Jazztel projected its revenue would jump to up to 1.6 billion by 2017, from 909 million last year, after a major investment in a fiber optic network and a new focus on mobile telephone clients.

In a strategic plan presented on Thursday the company said net profit would jump to between 180 million and 220 million euros in 5 years, from 62 million last year.

This news coincided with an announcement that France's Orange Telecoms and Vodafone Espana are to unite to invest 1 Billion to bring fibreoptic technology to an estimated 6 Million homes (3 Million being accessed by each provider) in around 50 cities across Spain.

Both projects represent a serious challenge to the former monopoly controlled by Telefonica, who currently provide a fibreoptic technology network to an estimated 2.2 Million homes.

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