UK mobile operator EE has secured a £350m five-year loan with the European Investment Bank to support the expansion of its 4G network.
EE said the agreement was signed yesterday to invest in its antenna and backhaul network.
It is the first time a…
UK mobile operator EE has secured a £350m five-year loan with the European Investment Bank to support the expansion of its 4G network.
EE said the agreement was signed yesterday to invest in its antenna and backhaul network.
It is the first time a mobile operator has secured a loan from the EIB to support 4G deployment in the UK. It follows a similar move earlier this year by Hutchison Whampoa, the Hong Kong conglomerate, for a €200m loan to expand its 4G network in Sweden and Denmark.
EE’s loan also comes as British mobile operators prepare to compete in the country’s auction of 4G frequencies early next year.
The company, which now operates as an independent financial entity after paying off debt to its parent companies Deutsche Telekom and France Telecom, became the first operator in the UK to commercially launch 4G earlier this year. But as demand for mobile broadband continues to rocket, it will likely be among the frontrunners for additional capacity.
