DNA agrees on EUR 40 million funding agreement with European Investment Bank for building a 5G network
DNA PLC INVESTOR NEWS 7 February 2019 11:30 am (EET)
DNA has agreed on EUR 40 million funding agreement with the European Investment Bank (EIB). Now agreed loan is a supplementary instalment to the EUR 50 million instalment agreed on October 2018 with EIB raising the total amount to EUR 90 million. The loan will principally be used for DNA's investments in the 5G network.
The loan agreed with the European Investment Bank will principally be used for the building of a 5G network. At the same time, the funding will be used to continuously increase the capacity of the 4G network, which will still remain the dominant technology in Finland for several years.
DNA has been preparing its mobile communication network for the 5G era since 2016. Early this year, DNA opened a 5G network in Helsinki. The network, covering the city centre in the first phase, will be expanded when devices with 5G support become generally available.
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DNA is a Finnish telecommunications group providing high-quality voice, data and TV services for communication, entertainment and working. DNA is Finland's largest cable operator and the leading pay TV provider in both cable and terrestrial networks. Our mission is to provide products and services that make our private and corporate customers' lives simple. As a telecommunications operator, DNA plays an important role in society by providing important communication connections and by enabling digital development. In 2018, our net sales were EUR 912 million and our operating profit EUR 139 million. DNA has more than 4 million subscriptions in its fixed and mobile communications networks. The Group also includes DNA Store, Finland's largest retail chain selling mobile phones. DNA shares are listed on Nasdaq Helsinki Ltd. For further information, visit www.dna.fi or follow us on Twitter @DNA_fi and Facebook.