Iliad Group nabs broadband funding

The Iliad Group has secured a loan of EUR 200 million from the European Investment Bank (EIB) to fund Iliad’s next round of fixed broadband network deployments. The EIB previously had loaned EUR 150 million loan to bankroll previous infrastructure roll outs.

Aug 28th, 2012

The Iliad Group has secured a loan of EUR 200 million from the European Investment Bank (EIB) to fund Iliad’s next round of fixed broadband network deployments. The EIB previously had loaned EUR 150 million loan to bankroll previous infrastructure roll outs.

The EIB is the long-term lending institution of the European Union owned by its member states. It makes long-term finance available to support EU policy goals.

Approximately 65% of the funds will be earmarked for the deployment of fiber to the home (FTTH). Much of the rest will go toward enhancing the carrier’s ADSL2+ network and promote unbundling. This next phase of construction will focus on less densely populated areas of the country under a cofinancing agreement signed with the incumbent operator in July 2011 designed to reach around 60 towns and villages.

Said EIB Vice-President Philippe de Fontaine Vive, “Innovation and support for advanced information technologies are one of the EIB’s top priorities. Our goal is to foster the development of a competitive European economy based on the knowledge triangle of education, research, and innovation. We are therefore delighted by this partnership with Iliad, a key player in the digital revolution in France. The inhabitants of small towns and villages will benefit in particular from this operation.”

“We welcome this partnership with the EIB, which will enable the Iliad Group to press ahead with the rollout of the digital fixed networks of tomorrow and strengthen its key position in France’s telecom’s sector,” added Xavier Niel, founder of the Iliad/Free Group.

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