Vodafone teams up with French telecoms tycoon and major BT investor Patrick Drahi

Vodafone has teamed up with French telecoms tycoon and major BT investor Patrick Drahi to roll out fibre broadband across Germany. 

The FTSE 100 telecoms firm and Drahi’s group Altice will create a joint venture, FibreCo, that will invest up to £6bn to construct a network connected to up to 7m homes. 

Construction will focus on large housing associations across Vodafone’s existing cable network in Germany, its largest market, and is aiming to upgrade broadband speeds to 3 gigabits per second (Gbps) from 1Gbps. Vodafone shares edged up 0.4 per cent, or 0.4p to 100.2p.