Orange Espana inks EUR300 million funding deal with EIB

22 Jun 2009

Spanish mobile and broadband operator Orange Espana has announced the signing of an agreement with the European Investment Bank (EIB), the long-term financing unit of the European Union, for the first tranche of a EUR300 million (USD418 million) loan. The funds are expected to be used to upgrade the operator’s W-CDMA network, as well as its fixed line broadband infrastructure, whilst helping to integrate the two. The upgrades come as part of Orange’s parent company France Telecom’s Orange 2012 business strategy. Commenting on the funding Jean Marc Vignolles, Orange Espana’s CEO, said: ‘The strength of our project, our presence in the Spanish market with more than 12.5 million customers and our future plans, have enabled us to be chosen by the EIB to gain access to financing on highly concessional terms.’

Spain, Orange Espana (incl. Jazztel)