Spanish incumbent Telefonica announced plans for a US$2.77bn capex investment in the Brazilian telecoms market in 2010.
Telefonica Latin America CEO Jose Maria Alvarez Pallete told press earlier this week that the telco intends to spend US$2.77bn in…
Spanish incumbent Telefonica announced plans for a US$2.77bn capex investment in the Brazilian telecoms market in 2010.
Telefonica Latin America CEO Jose Maria Alvarez Pallete told press earlier this week that the telco intends to spend US$2.77bn in Brazil throughout 2010 on improvements in both its mobile and fixed line assets.
The investment is an increase from its 2009 investment in Brazil.
Telefonica shares control of Brazilian mobile operator Vivo Participacoes with Portugal Telecom and owns fixed line telco Telesp in Brazil. Earlier this month PT turned down a US$7.3bn bid from Telefonica to acquire its share in Vivo. It is not yet clear whether the Spanish firm will increase its bid.