Scarlet to issue bonds/shares to fund network expansion

13 Jul 2006

Scarlet Telecom, which offers phone, dial-up internet, broadband access and data services to business and residential users in Belgium and the Netherlands, has announced plans to issue bonds and shares worth up to EUR45 million USD57.3 million), to fund a network expansion in both countries. Telecompaper writes that Scarlet aims to expand and upgrade its fibre-optic network in Belgium from 88 local exchanges to 250, giving it coverage of more than 75% of the population. It currently has around 350,000 customers there. The company added that it also intends to extend its fibre network to the Netherlands.

Scarlet raised around EUR75 million in a bond issue in early 2005 and in March that year announced plans to finalise its DSLAM rollout by mid-2006, and have 75% DSL coverage in both the Netherlands and Belgium.

Belgium, Netherlands, Scarlet Telecom (Belgium)