Broadnet Holdings BV ("Broadnet") was the holding company of the Broadnet group of companies. Broadnet assembled a portfolio of wireless broadband internet licenses in Europe in the late 1990s and early 2000s.[1] The company marketed its services to other businesses.
| Type | Private |
|---|---|
| Industry | Telecommunications |
| Fate | No longer operating |
| Founded | 1998 |
| Headquarters | Brussels, Belgium |
| Area served | Germany, France, Spain, Portugal, Norway, Czech Republic |
| Key people | Declan Ganley Ryan Wren (CEO) Joseph J. Euteneuer (CFO) |
| Owner(s) | Comcast Corporation, European Telcom Holdings |
| Website | www.broadnet.net (defunct) |
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The genesis of Broadnet dates back to 1996, when the Irish entrepreneur Declan Ganley[1][2][3] began purchasing wireless spectrum licenses though his company European Telecoms Holdings. In 1998, Comcast Corporation invested funds and Broadnet Holdings BV was formed.
Following the Comcast investment, Comcast owned 62.5% of the firm[4][4] and European Telcoms Holdings owned the remaining 37.5%.[4]
The company provided broadband internet using wireless spectrum in the 20.8 GHz frequency. The company used radio equipment manufactured by Lucent and Alcatel to establish point-to-point connections. The signal was broadcast from radios located on towers or building rooftops. Customer facilities would have a smaller radio transmitter.
By 2000 it attained spectrum licenses in Germany, France, Switzerland, the Czech Republic, Spain, Portugal and Norway.[1][3]
It also attained licenses in Austria, Switzerland and Greater London. It established companies in other countries for the purpose of bidding on licenses, but it was not always successful. Broadnet bid for a license in Ireland but was beaten by Eircom.[2] Broadnet sued the telecoms regulator that awarded the licenses, but settled.[2]
Broadnet launched operations in Germany, France, Spain, Portugal, Norway and the Czech Republic. Some other markets had network infrastructure for regulatory purposes, but were never commercially launched.
Broadnet considered raising around $1bn[3] to roll out broadband services via a flotation[3] or private placing,[3] but did not do so. Comcast bought out European Telcom Holding's Share to become the sole owner .[5]
In 2002, Comcast began divesting of its stake. It closed the Brussels headquarters and Broadnet Germany was acquired by Mediascape.