By Joey Gardiner, 6 April 2001 15:36
NEWS The deal sees Atlantic joining the growing list of telcos who are turning to their suppliers to bail them out of current financial difficulties, according to the Financial Times. Atlantic Telecom needs the vendor financing deal to combat its £205m debt mountain whilst continuing to roll out broadband telecoms services across Europe. Telcos have struggled since the high price of mobile licences and network infrastructure investment turned began to scare off investors at the end of last year. Now many telcos - particularly those who have invested in 3G licences - are left with large debts and little hope of raising money in the short term, and are starting to look to their suppliers for assistance. Just last week Nokia announced it was providing financing for France Telecom subsidiary Orange, Mobilcom and Hutchison 3G.
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