Lack of finance may hit cable network plan

Plans to develop a new glass fibre cable network in the Netherlands may run into trouble because of the lack of financing, the Financieele Dagblad reports on Wednesday.

Bert Nijboer, director of cable firm Reggefiber, says in an interview with the paper that prominent investors such as ING, ABN Amro and Fortis are reluctant to get involved, as are a number of foreign banks.
The network, which will link millions of households, is set to cost between €3bn and €4bn. The government gave the green light to the proejct at the end of last year. But without more investment, the roll out planned for the end of this year may be halted, the paper says.
KPN and investment house Reggeborgh are putting up 25% of the cost. KPN owns 41% of Reggefiber.
Nijboer is now in talks with provincial and local governments in an effort to get them involved in the project, he told the FD.
According to the company’s website, two million households should be connected to the new network by 2013.

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