$80m loan for POSTelecom

The Export-Import Bank of China will lend $80m to telecommunications operator POSTelecom for the acquisition of infrastructure equipment, Gabriel Mateescu, chairman of the National Romanian Postal Company (CNPR), said at the end of last week. The loan is to be paid in 11 years, with a three-year grace period. "Due to the technological equipment we will use, we will be able to charge less than RomTelecom," Mateescu said. He added the fixed telephony and Internet services will be initially available in Bucharest, Craiova, Cluj, Brasov, Iasi, Bacau and Constanta. ZF