Iliad said its 5G coverage rate in France currently reaches over 94.4% of the population
The European Investment Bank (EIB) has granted French operator Iliad a new €300 million ($329 million) loan to finance its 5G network rollouts, the company said in a release.
This is Iliad’s seventh loan from the EIB, bringing its total amount of financing granted since 2009 to more than €1.7 billion.
This latest financial commitment follows on from the €300 million loan announced in December 2022 to finance Iliad’s FTTH network rollouts in France.
Thanks to its investments, the group’s 5G coverage rate in France is now over 94.4% of the population. The carrier said it currently has almost 15 million mobile subscribers across the country, of which 11 million are 4G and 5G subscribers.
“This financing transaction reaffirms the strength of the long-standing relations that unite our two groups, not only in France, but also in Poland via our subsidiary Play since the beginning of 2022. We’re delighted to be furthering our partnership with the EIB, which will enable us to pursue our ambitious objectives of rolling out and densifying our mobile networks in France so we can provide the best connectivity to our subscribers,” said Thomas Reynaud, CEO of the Iliad Group.
“With this new loan, the EIB is renewing its support for a loyal partner that is a leading player in its sector in France and in Europe as a whole,” said EIB vice president Ambroise Fayolle. “This latest investment will enable this European operator to accelerate its 5G network rollouts and strengthen network infrastructure that has become essential for companies’ business development and people’s daily lives. Supporting the expansion of connectivity is a key priority for us, and is vital for ensuring that our regions remain competitive and attractive. As a public bank providing long-term financing for major European telecom and digital projects, it is our role to actively contribute to achieving this goal.”
In March, rival operator Orange signed a €500 million loan with the European Investment Bank to partly finance the group’s deployment of its 5G mobile network in France and the strengthening of its 4G mobile network capacity in rural areas in France.
