The European Investment Bank (EIB), the EU’s non-profit long-term lending institution, has provided EUR25 million (USD30 million) of funding to Telco OI in order to help the operator modernise and develop its mobile broadband networks across the French overseas territories of Reunion and Mayotte, Megazap writes. The cellco, which is 50/50 owned by Iliad Group and Axian Group (previously Hiridjee Group), is aiming to provide 4G services to 95% of the population in the two islands within five years. Pierre-Antoine Legagneur, CEO of Telco OI, said: ‘This EIB financing is part of Telco OI’s major investment plan in 2016 to modernise its mobile networks in Reunion and Mayotte enabling them to switch to mobile broadband.’
TeleGeography notes that Telco OI, which operates 2G/3G mobile services in Reunion and Mayotte under the ‘Only’ moniker, launched 4G services under the Free brand in Reunion in July 2017, offering peak downlink of 150Mbps. The operator is yet to deploy LTE technology in Mayotte.