Telco Daily: France M&A, ASTS, German broadband

Research evidence excerpt

Telco Daily: France M&A, ASTS, German broadband

Barclays | Telco Daily

terrestrial mobile partner to support multiple D2D providers. However, we continue to see an

unattractive risk/reward in the stock at these levels.

Germany - Broadband connections growth driven by fibre expansion

German broadband connections improved +0.2m in 2025, reaching 38.8m. DSL remained the

dominant technology with around 22.7m connections (59%), although it declined by about 4%.

Other technologies accounted for 16.1m connections (41%), led by HFC networks with roughly

8.5m. Fibre (FTTH/FTTB) connections rose to 6.4m, with FTTH making up the majority at 5.2m,

while FTTB/A contributed around 1.2m. Fixed wireless access accounted for about 0.8m

connections. Overall growth was primarily driven by strong fibre uptake, which more than offset

the decline in DSL. Fixed-line data traffic climbed to around 175 bn GB (2024: 149bn GB), with

average monthly usage per connection increasing significantly to 376GB/month per connection,

while mobile data consumption also rose to 10.9bn GB (2024: 9.6bn GB) with average data

volume used per active SIM profile per month increasing by about 13% y/y to 8.4 GB. Source:

Bundesnetzagentur (5 June 2026).

Telenor – Gets approval for acquisition of GlobalConnect business, Explores Easypaisa

stake sale as part of full Pakistan exit

The Norwegian Competition Authority has approved Telenor's acquisition of GlobalConnect's

Norwegian fibre business for residential customers subject to remedies. As a condition of

approval, Telenor and GlobalConnect are required to implement the following measures: a)

GlobalConnect's fibre infrastructure at addresses where Telenor also offers fibre shall be