One2One invests £900m in UK network

NEWS One2One, the UK's smallest mobile network operator, is to spend £900m over the next three years increasing its coverage from 96 to 98 per cent of the UK population. The company - which is co-owned by Cable & Wireless and Media One International, a division of Baby Bell US West - said it had raised part of the capital through funding from the European Investment Bank (EIB). The EIB offers interest rates which typically undercut those set by commercial banks. One2One claimed the investment in its digital network will particularly improve call reception inside buildings and along the UK's major travel routes. Announcing the network upgrade, One2One finance director Bob Koenig referred to the UK mobile telecoms sector as "clearly very buoyant" and predicted the company would become profitable next year.