Cube leverages CEBF for ClioFiber investment
Cube Infrastructure Managers’ (Cube) Connecting Europe Broadband Fund (CEBF) has made an investment in ClioFiber in Italy.
The ClioFiber is a wholesale fibre-to-the-home (FTTH) / fibre-to-the-office (FTTO) project in Italy, the first phase of which will involve investment of roughly €50 million.
“We are pleased to announce this new investment which will allow the deployment of new fibre networks connecting less populated areas across the Apulia region in Italy," said Izzet Güney, partner of Cube Infrastructure Managers.
"With this transaction, CEBF is pursuing its investment program in a dynamic environment while continuing to push for an acceleration of fibre deployment at the European level. This is CEBF’s second investment in Italy, and tenth overall, which underlines our commitment to advancing connectivity for people and businesses across Europe.”
CEBF is the first investment platform making broadband and digital infrastructure investments from both private and public investors under the European Fund for Strategic Investment (EFSI) and ClioFiber marks the CEBF’s tenth investment since its launch.
“We are committed to growing our network and meeting the need for fast and reliable full fiber internet connections, especially in underserved rural areas," said Moreno Grassi, CEO of ClioFiber.
"Securing this level of funding from CEBF not only underpins our ambitious growth plans but is also a vote of confidence in ClioFiber as a business and the product we offer.“
The project is also the CEBF’s second investment in Italy and it will see the deployment of FTTH infrastructure to connect rural and semi-rural communities.
Specifically, ClioFiber plans to cover approximately 20+ municipalities and provide full fibre broadband to 130,000 premises within two years.
“This CEBF’s tenth investment also represents a great achievement for the European Commission, setting an important milestone in the achievement of EU connectivity objectives," commented the European Commission.
"Subscribing to the most junior and riskier share class of the layered investment fund, the European Commission has successfully stimulated private capital investments (which represent 30% of the fund) in the deployment of gigabit networks in rural and lower density areas and created new dynamics in the sector.”