Telefonica de Espana SA has secured the equivalent of $411m from the European Investment Bank, taking out a 300m Ecu 15-year variable interest rate loan. The cash will be used to help finance new telephone lines, digital equipment, fibre optics cables and public telephones, as part of Telefonica’s expansion plans. The part state-owned company’s target is to have 16.5m telephone lines in service by 1995.
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