Open Fiber completes EUR 3.5 bln finance package for FTTH project

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(Telecompaper) The European Investment Bank (EIB), state lender CDP and a pool of 13 banks have signed off on a EUR 3.5 billion finance package to fund the fibre-optic broadband rollout plans of Italian wholesale operator Open Fiber. In a statement, Open Fiber said the finance deal is led by banks including UniCredit, Societe Generale and BNP Paribas and is the largest ever for a fibre-optic network in the EMEA region. “The transaction involves the most important Italian and international credit institutions and is an important sign of confidence in the project, in the wholesale-only model and especially in Open Fiber’s employees who have done a fantastic job in recent months,” said the company’s CEO Elisabetta Rippa.
Source: Industry News (syndicated from Telecompaper.com)

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