Telefonica Colombia Seeks EUR Loan

The Colombian unit of Telefonica has asked the European Investment Bank (EIB) for a EUR100m loan to expand its GSM mobile network and implement third generation Universal Mobile Telecommunications System technology in Colombia. Telefonica obtained a $600m A/B loan from the IDB, Citi, BNP, ABN and Santander in December and borrowed EUR100m from the EIB in 2006.