June 18, 2018 / 11:16 AM / 4 months ago

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

BERLIN (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 (3 billion pounds) and core profit increasing slightly.

Reporting by Nadine Schimroszik; writing by Douglas Busvine; editing by Jason Neely

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