After rumors swirled late last week that Telefonica was negotiating over a potential investment to build a fiber optic network for under-supplied areas of Germany, it now appears that a major insurance player is leading that collaboration.
According to a Reuters report quoting Spanish newspaper Expansion, Telefonica is close to an alliance with the private equity arm of Allianz. Together they hope to finance a five-billion euro investment in the infrastructure.
The report quoted unidentified financial sources, and referred back to previous speculation that Telefonica was in negotiations with banks and an “unidentified investor.”
According to the report, both Telefonica and Allianz were approached for comment with a spokesperson at Allianz not immediately available, while the spokesperson at Telefonica declined to comment.
Source: Insurance Business Magazine
Arbol Raises US$60 Million to Expand Climate Risk Solutions and Insurance Portfolio
Arbol, a climate risk solutions provider with a global footprint across more than 15 countries, has announced the successful closure of a $60 million Series B funding round.
Dubai’s US$850 Million Flood Losses Spur Urgent Call for Major Changes
As dramatic footage of Dubai’s storms unfolded earlier this month, it was clear that this was no ordinary weather event.
AEGIS London and Kayna Collaborate to Enhance Online Quote and Bind Platform
AEGIS London has announced a partnership with InsurTech firm Kayna to enhance its online quote and bind platform, Opal Underwriting.