Eolo, the main operator in Italy in ultra-broadband Fixed Wireless Access for the business and residential segments, announces the signing of a financing agreement for a total amount of over 155 million euros, provided by a pool of six leading international and domestic banks comprising UniCredit, Natixis, MPS Capital Services, Banco BPM, Credit Agricole Italia and Intesa Sanpaolo.
The objective of the operation is to further accelerate the growth of Eolo, particularly in the small municipalities of southern Italy, expanding the coverage of the Eolo FWA service to 100 Mega, and in the areas that suffer the most from the speed divide. Already today, 100 Mega connectivity is available in 89 provinces, 22 of which are in Southern Italy. At the end of November, Eolo had over 430 active subscription customers (up 30% on the previous year) including households and businesses, residing in 6.051 municipalities, serving over one million citizens throughout Italy with its connectivity service.
The operation is part of the growth and consolidation strategy launched at the end of 2017 with the entry of the Searchlight Capital Partners LP fund, and which has already seen the implementation of a three-year investment plan for about 300 million euros.
“Daily – he commented Luca Spada, President and founder of Eolo – our people work on new technological solutions and on the development of an increasingly widespread network that helps us solve the problem of the digital speed divide that still afflicts various provinces in our area. The conclusion of this agreement allows us to have new financial resources available, useful for further accelerating our growth strategy also towards the southern regions and consolidating ourselves as the national operator of reference for the small municipalities of which Italy is particularly rich. It is a great satisfaction to receive this sign of extreme trust from the market and the financial community, which recognizes EOLO in addition to a well-established market leadership role, the ability to develop a unique technology in the world capable of reducing the speed divide sustainably."
