Telefonica Deutschland has secured a loan of EUR450 million (USD497 million) from the European Investment Bank (EIB) to deploy a 5G network and to consolidate its LTE infrastructure. ‘This loan enables us to quickly build an energy-efficient 5G network and thus serve the rapidly growing demand from our customers for mobile data,’ commented Markus Rolle, CFO of Telefonica Deutschland, adding: ‘We are particularly pleased about the renewed cooperation with the EIB, which, as a European climate bank, plays an important role in the future of our planet.’
Telefonica plans on reaching 30 cities with its 5G network by end-2022, covering a total of 16 million people. Expansion will begin in Germany’s five largest cities of Berlin, Hamburg, Munich, Cologne and Frankfurt in the first quarter of this year. With regards to 4G, expansion will be carried out in rural areas with a view to covering 99% of households with LTE by the end of 2020.