Digital Bridge investing EUR500m in fibre rollout, partnering Nowo

9 Dec 2019

US fund Digital Bridge plans to invest up to EUR500 million (USD553 million) in a Portuguese nationwide fibre network rollout in partnership with Grupo MASMOVIL subsidiary Nowo, with investment set to arrive in Q1 2020, reports Jornal Economico. Nowo aims to ‘triple its share to 12% of the market’, and its CEO Miguel Venancio told the newspaper that Nowo (formerly Cabovisao) and sister operator Oni’s new strategy is to become a ‘nationwide fixed and mobile broadband operator supported [by the] fibre-optic network’, adding: ‘We essentially want to reach 70% of the homes in Portugal, that is, to go from covering 900,000 homes to 3.5 million.’ Nowo also wants to ‘secure a presence in the new mobile market’ emerging with the launch of 5G, and develop converged fixed/mobile broadband offerings, while it is ‘evaluating several scenarios’ regarding Portugal’s 5G auction expected by mid-2020.