Elisa Corporation, press release, 06/10/2015
Elisa Corporation and the European Investment Bank (EIB) have today signed a EUR 150 million loan agreement. The agreement was signed by Jan Vapaavuori, vice-president of the European Investment Bank, and Veli-Matti Mattila, CEO of Elisa. With the loan, EIP is supporting Elisa's investments in 4G LTE networks in Finland and Estonia, in which mobile data traffic will multiply over the next few years.
Elisa is the largest operator-investor in Finland, with annual investments in data communications infrastructure amounting to some EUR 200 million. With the new loan, the European Investment Bank is financing Elisa's investments in developing Finnish and Estonian telecommunication networks.
"The European Investment Bank fosters smart growth and strongly supports the development of an economy based on knowledge and innovation. We therefore particularly welcome this agreement with Elisa, as its investment will not only enable the mobile broadband market to grow but will also provide first-class services to meet future demand", says Jan Vapaavuori, vice-president of the European Investment Bank and signatory of the loan agreement.
"Elisa is a pioneer in mobile communications in Finland and Estonia. Mobile data usage volumes in Finland are already the highest in the world. The volume of data will multiply in the near future, as more and more devices will be connected to the Web through the Industrial Internet, and video traffic will also increase. Environmentally friendly ICT and online solutions will also considerably reduce the carbon footprint. With the investment funding obtained from the European Investment Bank, we will have good opportunities to increase network speeds and capacity, which are needed for the introduction of new services and applications. Also 5G is already at the door and we will contribute to its development through research projects and cooperation with device manufacturers", says Elisa CEO Veli-Matti Mattila.
Press photo attached: Veli-Matti Mattila, CEO of Elisa, demonstrated the operation of Elisa's network to Jan Vapaavuori, vice-president of the European Investment Bank, in connection with the signing of the investment loan in Helsinki.
Elisa Corporation, Jari Kinnunen, Chief Financial Officer, tel. +358 10 262 9510 firstname.lastname@example.org
Elisa is a telecommunications, ICT and online service company serving 2.3 million consumer, corporate and public administration organisation customers. Elisa provides environmentally sustainable services for communication and entertainment, and tools for improving operating methods and productivity of organisations. In Finland Elisa is the market leader in mobile subscriptions. Cooperation with Vodafone and Telenor enables globally competitive services. Elisa is listed on Nasdaq Helsinki Large Cap with over 200 000 shareholders. Elisa's revenue in 2014 was 1.54 billion euros and it employed 4,100 people. www.elisa.com
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