Telefonica (NYSE: TEF) Brazil's presence in the country's broadband market continues to rise. Adding 360,000 new subscribers in just the first half of this year, 14 percent over what it added at the end of 2009, Telefonica Brazil now has three million customers for its ‘Speedy' brand broadband service.
With the addition of 200,000 new customers in just the first quarter of 2010, Telefonica says that it has added twice the amount of customers than its main rival NetServicos this year. What could make Telefoncia Brazil's broadband service, which is currently available to 23 percent of the 13 million homes in Sao Paulo, even more competitive is that beginning in August it will cut the price of its 2 Mbps service to $39.00 a month.
Brazil's broadband and overall wireline market continues is an important area of growth for the Spanish operator. Earlier this month, Telefonica announced that it would not only invest $519 million to expand Brazil's broadband network and service capabilities, but also invest $2.78 billion to upgrade its wireless and wireline network infrastructure in the country.
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