Press release -
GlobalConnect Group reprioritizes investments in growth markets
Digital infrastructure provider GlobalConnect Group will focus its investments further in the markets with the greatest opportunity. As part of this strategy, the Group scales down its B2C business in Germany to focus investments in the German B2B and Carrier segments and in the fiber-to-the-home (FTTH) market in Finland.
GlobalConnect Group, who in recent years has invested heavily in building fiber to connect Northern Europe, has decided to focus investments further in markets with the greatest opportunity and impact.
GlobalConnect Group will continue investments in B2C markets in Denmark, Sweden and Norway and especially strengthen its focus on continuing a significant momentum in the fiber rollout in Finland - the Nordic country with low fiber penetration - where the Group has offered fiber-based connectivity to consumers since early 2023.
In Germany, the Group will concentrate its investments in the B2B and Carrier segments which are showing great growth opportunity.
As a result of this investment prioritization as well as increased competition and uncertainty on the FTTH market in Germany, GlobalConnect’s German B2C business will be scaled down. This decision means that most positions in GlobalConnect’s German B2C business have been terminated. Existing B2C customers in Germany will continue to be supported.
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About GlobalConnect
GlobalConnect is one of the leading digital infrastructure and data communication providers in the Nordic region, driving more than half of all data traffic in and out of the Nordics. GlobalConnect delivers fiber-based broadband services to more than 800,000 private consumers and end-to-end connectivity solutions to 30,000 B2B customers via its 200,000 kilometer fiber network across Denmark, Norway, Sweden, Germany and Finland. GlobalConnect employs approximately 2,000 people and had a turnover of EUR 673.1 million in 2022.
