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Portugal's Sonaecom Applies for European Bank Funding
Published on:
The Portuguese mobile network operator, Sonaecom has applied for a EUR110 million loan from the European Investment Bank (EIB). The funding will be used to cover a EUR222 million network expansion plan for its network.
In a supporting statement, the EIB noted that the access technologies included in the eligible project (UMTS with HSPA+ and LTE/4G) are relevant to fulfil the EU's Digital Agenda target of reaching a coverage above 30 Mbps transmission speed by 2020 across the Union and addressing the expected increase of mobile data (and stationary or slow-moving wireless) traffic volumes.
The loan is currently under appraisal by the bank.
Tags: [sonaecom] [european investment bank] [Portugal]
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