OTE Group of Greece has secured a EUR150 million (USD150.5 million) loan to help finance the continued rollout of fibre-to-the-home (FTTH) technology by domestic unit Cosmote. The loan is being provided by the European Bank for Reconstruction and Development (EBRD). Cosmote plans to pass 371,000 households with fibre under a wider EUR3 billion investment programme which runs until 2027.
OTE Group CEO Michael Tsamaz commented: ‘The agreement is a vote of confidence in the company and its potential. At the same time, it contributes significantly to the rollout of OTE’s FTTH network other than in major cities and thus to Greece’s regional inclusion, digital transformation and green transition.’