Bredbandsbolaget, the Swedish fibre-optic cable firm, could set the tone for fundraising among cash-strapped European telecoms companies if it goes ahead with plans for a convertible loan.

Bredbandsbolaget, or B2, is understood to be looking to raise up to Skr1bn (€111.7m) via a loan from some of its shareholders. However, the loan has an exchangeable component and can be converted into shares on preferential terms for investors if and when B2 goes public.