Telefonica: To Invest BRL5 Billion In Brazil In 2010
May 19 2010 - 7:06AM
Dow Jones News
Telefonica SA (TEF) plans to invest 5 billion Brazilian reals
($2.77 billion) in Brazil this year in both fixed-line and mobile
telecommunications, the company's Latin America head Jose Maria
Alvarez Pallete said Wednesday.
In a meeting with journalists and business leaders, Pallete
added that Telefonica had invested a total of EUR90 billion in all
of Latin America since it began operations in the region in the
1990s.
Telefonica owns Brazilian fixed-line operator Telecomunicacoes
de Sao Paulo (TLPP4.BR), or Telesp and shares control of mobile
operator Vivo Participacoes SA (VIV) with Portugal Telecom
(PT).
In 2009, Telefonica invested BRL3.4 billion in Brazil.
-By Jason Sinclair, Dow Jones Newswires, 34 913958127,
jason.sinclair@dowjones.com
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