Telefonica to pump big bucks into Brazil

Telefonica has never been anything short of ambitious when it comes to its investment in the Latin American telecom market. Part of that ambition continues to be seen in Brazil where the Spain-based telco plans to invest "more than" $1.14 billion in the region in 2010.

Speaking to the media at an event in Sao Paulo, Brazil, Telefonica's CEO Antonio Carlos Valente said this week that "the investment might be bigger than 2 billion reais ($1.14 billion)."    

For more:
- Reuters has this article

Related articles
European telco Q2 roundup: BT, France Telecom, Telefonica beat expectations
Brasil Telecom deal gets regulatory push
Oi announced the Brasil Telecom deal last April
Brasil Telecom launched IPTV service last year