Zed, Madrid based mobile entertainment and networking company, has taken a loan of €92.5 million ($143.8 million) for fund mergers and acquisitions. The loan comes in from four Spanish banks and one Dutch - Banesto (€25 million), BBVA (€20 million), Banco de Sabadell (€15 million), Caja Madrid (€7.5M million) and ING (€25 million).
EO Javier Pérez Dolset: “The main objective of this loan is to finance the expansion plans of the company and give a significant boost to our mergers and acquisition policy. The granting of this credit confirms that the market continues to support Zed’s growth policy.”
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After rival Vodafone shares plunged, shares in Spanish telecoms group Telefonica fell more than 6 percent. Shares in Telefonica failed to open trade because of the high volume of trades placed.
Madrid Based Trader said that “Vodafone’s saying they’ve been hit hard in Spain, and people are worrying that Telefonica’s results will show the pressure as well.”
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Huawei Technologies has announced that it has been awarded a High Speed Packet Access (HSPA) network expansion contract by Vodafone that will serve the seven major cities in Spain, including Barcelona and Madrid. The 3.5G expansion contract follows the successful deployment of Huawei’s first contract with Vodafone Spain, signed in August 2006, under which it supplied the cellco with distributed node Bs. The node Bs’ Remote Radio Unit (RRU), with an output power of 40W, can be installed directly on masts, decreasing power loss and increasing network coverage and performance.
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Zed takes $143.8 million loan for mergers and acquisitions (Spain)
