LONDON-FirstMark Communications, which is building a wireless broadband network in Europe, said it secured private-equity financing of more than $1 billion, an amount the company said is the largest-ever European telecom private-equity placement.
The Luxembourg-based company said the funding will be used for continued buildout and expansion of its European infrastructure and will finance its current business plan well into 2001.
The funding includes $600 million in private equity and $459 million in debt financing from Deutsche Bank AG.
FirstMark holds wireless local loop licenses in Spain, Luxembourg, Switzerland and Portugal covering a population of more than 100 million. The company plans to acquire additional WLL spectrum throughout Europe and expand its fiber networks in Germany, France and Spain.
Siemens is providing the equipment for FirstMark’s WLL network in Germany.
