Vienna, 25 August 2022 – Austrian leading telecommunications operator Magenta relied on the legal advice of Wolf Theiss regarding the onboarding of its Co-investor and Joint Venture partner Meridiam with respect to the role out and financing of a high-speed fibre broadband network. The EUR 1 billion investment will provide more than 650,000 buildings with high-speed FTTH (“Fibre to the Home”) internet connections.
Wolf Theiss advised the Austrian leading high-speed broadband operator Magenta on all legal aspects regarding the set up of its Joint Venture with renowned European investor Meridiam, which involved advising on antitrust law as well as public funding, regulatory aspects and the set up of data privacy & compliance systems.
The newly established Joint Venture between Magenta and Meridiam will build regional and local high-speed fibre broadband networks outside of urban areas in the upcoming six years – linking approximately 650,000 buildings to the network. Construction is scheduled to begin this year.
This project involved several Wolf Theiss practice groups – including corporate law, banking and finance, competition law, public law and employment law. Under the co-lead of Wolf Theiss partners Andreas Schmid (Projects) and Christian Mikosch (Corporate/ M&A), further members of the core team involved were partners Roland Marko (IP & TMT) and Günter Bauer (Competition Antitrust), counsel Paulina Pomorski (IP & TMT), senior associates Gregor Grablowitz (Corporate/M&A), Harald Strahberger (Regulatory & Procurement) and Markus Aigner (Banking & Finance).
Andreas Schmid, Wolf Theiss partner
“Our experience in similar projects enabled us to provide full scale advice to Magenta creating a unique opportunity for the Austrian market”
“Our combined teams were again successful in providing seamless advice in this ambitous project”Christian Mikosch, Wolf Theiss partner
The Joint Venture between Magenta and Meridiam is subject to approval by the EU Commission. The corresponding competition procedure has already started and a conclusion is expected by the end of 2022.
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