The state-owned Brazilian Development Bank (BNDES) has agreed to provide R$3bn (US$1.68bn) in financing to mobile operator Vivo, a subsidiary of Spanish incumbent Telefonica.
In a statement, BNDES said that the funds would be used for the expansion and…
The state-owned Brazilian Development Bank (BNDES) has agreed to provide R$3bn (US$1.68bn) in financing to mobile operator Vivo, a subsidiary of Spanish incumbent Telefonica.
In a statement, BNDES said that the funds would be used for the expansion and improvement of network infrastructure required for the deployment of new technology between 2011 and 2013, as well as for R&D.
In particular, the main investment will be related to a plan to expand 3G coverage and the expansion of coverage on both 2G and 3G networks.
BNDES said that the capital programme also provides for the construction of a data centre, which will be used by Vivo and Telefonica’s fixed-line Brazilian subsidiary, Telesp.
