Ericsson said late on Wednesday it had signed a seven-year loan of 4 billion Swedish crowns ($668 million) with the European Investment Bank (EIB) to research and develop the next generation of mobile broadband technology.

Investments will be made at sites in Sweden between 2008 and 2010.

The telecom equipment maker said the money would be used for the development of telecommunications equipment and software to implement Long-Term Evolution radio technology for high downlink and uplink speeds for mobile broadband applications, and advanced services for fixed-to-mobile convergence.

Source:Reuters