LONDON: Britain’s Vodafone and France’s Altice said they would create a joint venture in Germany named FibreCo to provide faster fibre broadband to up to 7 million homes over a six-year period.

Vodafone said in a statement on Monday that FibreCo, which will provide fibre-to-the-home connectivity, would invest up to 7 billion euros to build the network, and that the project was in line with its plan to upgrade Vodafone’s existing hybrid fibre cable network.

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Both companies will own 50% in FibreCo in a deal that will be subject to regulatory approval and expected to close in the first-half of 2023.