Magnet Networks announces EUR25 million investment plan

8 Feb 2007

Irish broadband internet access and cable TV provider Magnet Networks is planning to invest EUR25 million (USD32.5 million) in developing its infrastructure and boosting market share. The money is in addition to the EUR45 million it has already spent in building out its network. In an interview, the company’s chief executive officer Vern Kennedy said Magnet is planning to target the business services segment, where it will increase its focus on local loop unbundling (LLU), and the rollout of fibre-to-the home (FTTH) in order to reduce its reliance on eircom’s PSTN.

Ireland, Magnet Networks