Free secures European Investment Bank funding

French service provider Iliad Telecom, which operates under the Free brand, has secured €200 million in funding for the deployment of next-generation broadband infrastructure from the European Investment Bank.

The contract, signed yesterday by Iliad Telecom founder Xavier Niel and European Investment Bank vice-president Philippe de Fontaine Vive Curtaz, followed a similar contract last year for €150 million. Free will allocate two thirds of the funds to developing FTTH with the remainder to be used to further develop its ADSL 2 Plus network and the unbundling of lines.