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Smart raises €20m for broadband move

Smart Telecom has announced plans to offer new broadband services to residential customers. The company, which is listed on London's AIM market, has raised €20m from backers to finance the move.

Smart says its new service will have no monthly line rental charge for the first 100,000 customers and a fixed monthly cost of €35 for 2MB.

Roll-out of the programme begins next week. Smart will deliver the service by unbundling the local loop between local telephone exchanges and homes and says its progress will depend on gaining access to Eircom exchanges.