Societe Generale takes 50% of Vodafone's €7B German fibre venture
What's the deal? Societe Generale has agreed to acquire a 50% stake in OXG, Vodafone's German fibre joint venture, replacing Patrick Drahi's Geodesia as the company's co-owner. Financial terms were not disclosed, and the transaction remains subject to regulatory approvals.
What's the endgame? OXG plans to invest up to €7 billion to bring fibre to as many as seven million German homes. Vodafone retains its half of the venture and says the move gives it "strategic flexibility."
Why now? The deal secures funding continuity after Drahi's exit, keeping the rollout on track. OXG reported construction across 39 cities, with sales open to one million households in Vodafone's H1 FY26 update.
For Vodafone, a new long-term partner matters to execution rather than signalling any change to the rollout's scale or strategy.
The signal: Germany's fibre build-out is accelerating, with year-end 2026 coverage estimated at about 26.9% and competitors providing most connections. Swapping a financial backer for a major bank underscores how much capital these infrastructure plays demand — and how lenders are stepping in to fund them.
Read more: in.marketscreener.com
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