Telecom Italia (TI) has secured another €100m (US$138m) from the European Investment Bank (EIB) to develop its mobile broadband services.
This marks the final instalment of a €500m (US$690m) financing with the EIB, the first instalments of which…
Telecom Italia (TI) has secured another €100m (US$138m) from the European Investment Bank (EIB) to develop its mobile broadband services.
This marks the final instalment of a €500m (US$690m) financing with the EIB, the first instalments of which were signed in February 2013.
TI will use the funds to boost the availability and quality of high-speed 3G and 4G mobile broadband services in Italy. The project, which the EIB said is estimated to cost a total €1.04bn, includes rolling out several thousand new access nodes and improving the transmission network.
The Italian incumbent is working to cut debt which stood at €27bn (US$37.3bn) at the end of 2013. The company is currently sounding out the market for its mobile towers in Italy and Brazil ahead of a potential sale in the first half of the year. TI aims to generate about €2bn (US$2.8bn) in cash proceeds from the combined sales of the towers and local unit TI Media Broadcasting.
