EUR1 billion investment in NGNs

8 Jan 2009

Prime Minister Jose Socrates has announced the government will provide a EUR800 million (USD1.09 billion) credit line to support Portugal Telecom, Zon Multimedia, Sonaecom and Oni in their plans to invest EUR1 billion to build out next generation broadband fibre networks this year. Socrates said the networks will cover 1.5 million homes and are considered imperative to help the country fight the economic downturn.