Spanish incumbent Telefonica has secured over €180m (US$233m) in financing from Export Development Canada (EDC) to buy products from French telecoms vendor Alcatel-Lucent.
Commenting on the deal, Stephen Wilhelm, EDC’s regional VP for Africa,…
Spanish incumbent Telefonica has secured over €180m (US$233m) in financing from Export Development Canada (EDC) to buy products from French telecoms vendor Alcatel-Lucent.
Commenting on the deal, Stephen Wilhelm, EDC’s regional VP for Africa, Europe, and the Middle East, said in a statement: “EDC’s financing will not only help [Alcatel] grow its business with Telefonica, but it will also help open the door for Canadian companies to enter the supply chains of both telecommunications giants.”
Alcatel, which is listed on both the Paris and the New York Stock Exchanges, operates in a number of Canadian cities focusing on research and development, sales, and customer service, EDC stressed.
Canada’s export credit agency has provided financing to Madrid-based Telefonica since 2006. Most recently, in April 2013, the incumbent secured a €200m (US$258m) loan from EDC to buy products from Ontario-based BlackBerry.
