TIM gets EUR350m loan from EIB

Telecom Italia (TIM) has secured loans worth EUR350 million (USD428 million) from the European Investment Bank (EIB) to help fund the deployment of new fixed and mobile infrastructure and grow its Cloud business. EUR230 million of the funding will go towards the expansion of fibre-optic networks and the construction of new data centres in Italy and Greece, Reuters reports. The other EUR120 million will be used for the rollout of 5G mobile networks.