Private equity firm Allianz Capital Partners and Telefónica, a Spanish multinational telecommunications company, agreed to form a €1.5bn ($1.8bn) joint venture to deploy Fibre-to-the-Home in Germany. "We are very enthusiastic about the opportunity to partner with Allianz, one of the world’s largest investors with whom we share the ambition to drive fibre roll out in Germany, contributing to accelerate the country’s digital development. We are delighted to put our expertise behind this partnership, joining forces with Allianz as a key element for success, strengthening Telefónica Infra's value proposition and reinforcing the strategy presented by Telefónica a year ago," Ángel Vilá, Telefónica Group COO.