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Telefónica plans $2.7bn Brazil investment
20 May 2010
Telefónica is increasing its investment in Brazil from $1.86bn in 2009 to $2.77bn this year, the company announced
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Telefónica
Brazil
Telesp
Telecomunicacoes de Sao Paulo
Vivo
Telefónica is planning an investment of $2.77 billion in the Brazilian market in 2010. The amount will be invested in both fixed-line and mobile telecommunications, according to Jose Maria Alvarez Pallete, Telefónica’s Latin America head.
Last year, the Spanish company invested $1.86 billion in Brazil, about half the planned investment in 2010.
The provider has invested a total of $111 billion in the Latin American region since the launch of its operations in the 1990s.
Telefónica Brazil is using Ericsson’s professional services unit to manage its network wireline operations in the region.
Telefónica owns Brazilian fixed-line operator Telecomunicacoes de Sao Paulo, or Telesp, and has a majority stake in mobile operator Vivo Participacoes. GTB