Belgian mobile operator Mobistar has secured a €120m (US$163.7m) revolving credit facility from its largest shareholder Atlas Services Belgium (ASB), a financial subsidiary of French incumbent Orange.
Mobistar said it would use the financing,…
Belgian mobile operator Mobistar has secured a €120m (US$163.7m) revolving credit facility from its largest shareholder Atlas Services Belgium (ASB), a financial subsidiary of French incumbent Orange.
Mobistar said it would use the financing, amortisable over a three-year period, to pay off the €120m it spent on acquiring digital dividend spectrum in November.
Mobistar said that it had decided to pay for the frequencies in one lump sum, as opposed to annual instalments. The 2×10 MHz licence lasts until 2033 and is in the 800 MHz.
In a statement the operator said: “The acquisition of this spectrum is a crucial part of Mobistar’s strategy for an accelerated deployment of the 4G technology in Belgium.”
ASB holds 52.91% of Mobistar and the rest is free float.
