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Cube Infrastructure invests €14m in Finnish rural fibre

Janne Ahola Fibernet.jpg

Private equity investor Cube Infrastructure Managers has injected €14 million into Fibernet Finland in what it calls “the first phase”.

Fibernet Finland is a wholesale company planning to build fibre-to-the-home (FTTH) networks to an initial 41,000 premises within three years, reaching six municipalities in semi-urban and rural communities in Finland.

Luxembourg-based Cube is investing via its Connecting Europe Broadband Fund (CEBF), which already has eight other investments in Europe, but none so far in Finland. It is working with Ociusnet, a Stockholm professional services and turnkey telecom contractor specialising in fibre networks.

Janne Ahola (pictured), CEO of Fibernet, said: “We are extremely pleased about CEBF’s investment in our project. We have already built a stable footprint and now, thanks to our cooperation with Cube and Ociusnet, we have a great possibility to bring fibre broadband to thousands of households in Finland.”

Izzet Güney, partner of Cube Infrastructure Managers, said the investment “will allow the deployment of new fibre networks connecting less populated areas across southern Finland”.

He said CEBF is “continuing to push for an acceleration of fibre deployment at the European level”.