Portugal Telecom has reportedly applied to the European Investment Bank (EIB) for a €120m (US$161m) loan to invest in its mobile networks.
Portuguese newspaper Jornal de Negocios reported that the incumbent intends to spend about €247m (US$331m)…
Portugal Telecom has reportedly applied to the European Investment Bank (EIB) for a €120m (US$161m) loan to invest in its mobile networks.
Portuguese newspaper Jornal de Negocios reported that the incumbent intends to spend about €247m (US$331m) over the coming years on upgrading its 3G network and developing its 4G network.
The €247m investment does not include the €113m (US$152m) PT has already spent on acquiring a 4G licence.
It typically takes the EIB about three months to respond to requests for new lines of credit, the paper stated.
PT reportedly already has credit facilities with the bank for developing a fibre optic network and ‘cloud’ technology.
Portugal Telecom was not immediately available for comment.
