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Technology Stocks : LAST MILE TECHNOLOGIES - Let's Discuss Them Here

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To: MikeM54321 who wrote (10900)	4/10/2001 1:46:53 PM
From: elmatador	Read Replies (2) of 12823

Europe's EIB set to bail out 3G license-holders By Alan Osborn, Total Telecom 09 April 2001 The European Investment Bank is ready to assist cash-strapped telecommunication companies saddled with huge debts after paying for third-generation mobile phone licenses. A spokesman for the EIB, which is an institution of the European Union, told Total Telecom Monday that the bank was "very keen to keep up with the latest developments in the industry which would also include financing viable telecoms projects in the 3G area." The spokesman added that the EIB was in "more or less permanent dialogue with the industry and the Commission." He was responding to a suggestion from a committee of the European Parliament, which has proposed that the EIB step in to help telecoms companies in the interest of preserving Europe's world lead in mobile communications. Over the past five years the EIB has lent the equivalent of £2.7 billion (US$3.9 billion) for mobile phone projects. Although lending to the sector has fallen back recently, the EIB spokesman said that following a re-shaping of lending priorities "we're particularly keen to get involved in information and communications technology networks, trans-Europe broadband and multi media networks providing local access to networks." This would tie in with the development of third-generation networks, he added. The EIB is the world's largest non-governmental lending body with an annual loan distribution of some £20 billion. As a borrower with an AAA rating and a non-profit institution, the bank can borrow cheaply and lend on at virtual cost. This will change the whole picture, Mike. Now the pressure is off operators and move over to vendors. The EIB is the bank that will finance the infrstructure in the new entrants in the European Community by the mid of the decade.

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