The founder and CEO of United Internet AG wants Germany's internet providers, including market leader Deutsche Telekom AG, to form a joint company that would build out the country's high-speed broadband network, according to a Reuters report.
Chancellor Angela Merkel government has vowed to invest €10 billion to €12 billion in broadband expansion as part of the "Gigabit society" initiative by 2025, Reuters reported. United Internet's Ralph Dommermuth said costs for expanding the fiber network could be €80 billion, and so industry should take the lead.
"Each telecommunications company that wants to participate in this alliance would contribute capital according to its market share," Dommermuth reportedly said in an interview with newspaper Welt am Sonntag.
The German internet service provider would invest €1.4 billion, based on its market share of 14%, for the joint effort if others join it.
