SocGen completes investment in Vodafone fibre venture in Germany

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Societe Generale SA has completed the purchase of a 50% stake in a telecommunications fibre joint venture in Germany with Vodafone Group PLC, the UK company confirmed on Friday.

The Paris-based bank bought the half stake in OXG Glasfaser Beteiligungs-GmbH from Geodesia Holding Sarl. Vodafone didn't disclose the price paid. The agreement was first announced at the start of September.

Vodafone, a Newbury, England-based telecommunications provider, said the investment by SocGen "secures a committed funding partner in OXG, enabling the continued expansion of its fibre network in Germany, while maintaining strategic flexibility for Vodafone".

Vodafone shares were up 1.2% to 118.10 pence in London on Friday morning. SocGen was down 1.7% to EUR61.37 in Paris.

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