Iliad secures loan from EIB for broadband improvements

28 Aug 2012

French telco Iliad has signed an agreement with the European Investment Bank (EIB) under which it will borrow EUR200 million (USD250 million) in order to help finance the rollout of high speed broadband. Two-thirds of the funds will go towards improving the operator’s fibre-optic broadband infrastructure, while the remainder will used to boost ADSL-based speeds. The loan must be repaid over nine years. ‘The return on investment on fibre broadband networks takes more than ten years, so we need more long-term financing than banks typically offer,’ Iliad founder Xavier Niel said at a press briefing on Monday.

France, Iliad (Free)