Debt-laden Telefonica (TEF +2%) obtains a $1B credit facility to buy infrastructure gear from...

|About: Telefonica S.A. (TEF)|By:, SA News Editor

Debt-laden Telefonica (TEF +2%) obtains a $1B credit facility to buy infrastructure gear from Ericsson (ERIC +2.9%). The news follows recent deals to use Ericsson's equipment in 4G buildouts in the U.K., Brazil, and Chile. Compared with U.S. carriers, Telefonica has been taking its time to deploy 4G. Ericsson recently boasted of having a 50%+ 4G LTE volume share (likely to come down, but still impressive), and of scoring LTE deals with 9 of the world's 10 largest mobile carriers.