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Telefónica to invest $1.93bn in Brazil
23 February 2010
Telefónica is to increase Brazilian investment from $1.2 billion in 2009 to $1.9 billion this year
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Telefónica
Brazil
Telesp
Vivo
Ericsson
Deutsche Bank
Citigroup
Portugal Telecom
Telefónica is planning to invest $1.93 billion in Brazil in 2010. Of this, $1.27 billion will go to its Telecomunicacoes de Sao Paulo unit. In 2009, Telefónica spent $1.21 billion in Brazil.
The 2010 amount also includes investments by other Telefónica units in Brazil. The units include internet provider Terra, call centre services provider Atento and wireless phone company Vivo, a joint venture with Portugal Telecom.
Additionally, Telefónica has secured a $472 million loan from Deutsche Bank and Citigroup. It will use the funds to invest in Latin America and Europe.
The credit facility, due 2019, will be used to finance the acquisition of equipment and mobile services from Ericsson. GTB