June 18, 2018 / 11:08 AM / 5 months ago

Germany's Freenet to ramp up internet TV offering -CFO

BERLIN, June 18 (Reuters) - German independent telecoms provider Freenet plans to ramp up its internet TV offering to challenge Netflix and Apple, Chief Financial Officer Joachim Preisig told Reuters.

* “Our goal is to reach a million customers as quickly as possible,” Preisig said in an interview.

* Freenet’s waipu.tv product, already available via the Amazon Fire Stick remote, has around 133,000 users.

* “In the next three to four years we want to reach between 2 and 3 million customers and an operating profit of between 60 and 70 million euros,” Preisig said.

* Freenet, a constituent of the TecDax index, has enough capital for acquisitions “but not at any price”, he said.

* He said the proposed takeover by Vodafone of Liberty Global’s German cable provider Unitymedia “may be good for competition and good for us”.

* Regulators may require the merged entity to open network access to third parties.

* Preisig said he sees Freenet’s 2018 revenue flat at around 3.5 billion euros ($4.07 billion) and core profit increasing slightly. ($1 = 0.8610 euros) (Reporting by Nadine Schimroszik; writing by Douglas Busvine; editing by Jason Neely)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below