CEBF announces its first investment in Czech Republic
Luxembourg, December 15, 2020.
Connecting Europe Broadband Fund (“CEBF”) announced today that it has signed a transaction with founders of Scancom s.r.o. in the Czech Republic to deploy high-quality, fibre-to-the-home (FTTH), open-access networks for residential, business and public administration in selected areas of the Czech Republic currently under-served by high speed internet networks. The fund is backing a seasoned management team to initiate the networks, working closely with local municipalities to ensure effective deployment.
Renaud de Matharel, CEO and Managing Partner of Cube IM, said: “It is a great pleasure to extend our investment platform into the Czech Republic and build a highly needed network to areas currently unable to connect to fibre broadband. CEBF’s mission of backing greenfield investments is underpinning this transaction and 2020 has demonstrated clearly that access to high speed connectivity is not a luxury but an essential right. We have confidence that the Czech market will be a great area to demonstrate the merits of our strategy.”
Stefan Lager, CEO and founder of Scancom s.r.o., said: “With options for high speed internet connectivity limited in many Czech municipalities, we are working closely with mayors of target areas to launch our project. We are very excited to finally announce our launch and anticipate starting construction and connecting customers in the spring. Open access FTTH networks are new in the Czech Republic and we are convinced that the market is ready to accept our flexibility to both service providers and customers to connect through our platform.”
About Cube Infrastructure Managers: Cube Infrastructure Managers is a reputable independent Alternative Investment Fund Manager headquartered in Luxembourg with extensive experience in investing in infrastructure with three funds under management. Cube Infrastructure Fund I and Cube Infrastructure Fund II are focusing on investments in regulated, brownfield infrastructure assets, and the Connecting Europe Broadband Fund is a fund dedicated to investment in broadband infrastructure projects.
About Scancom s.r.o.: Scancom is a new fibre-only operator launched by a team of telecom experts with significant experience in the Czech telecoms market. Scancom deploys point-to-point, open access, Gbit fibre networks across the Czech Republic to serve mainly the residential market
Contacts for further information: Caroline Kragerud, Head of Investor Relations, Cube Infrastructure Managers, +352 248 734 6874 Izzet Güney, Managing Director, Cube Infrastructure Managers, +352 248 734 6873 www.cubeinfrastructure.com
Projects should be referred to CEBF@cubeim.com or +352 248 734 68 00