Telefonica (NYSE: TEF) wants to be ready for new growth in Brazil's telecom market so it's going to increase capital spending in the region by 52 percent over the next three years to BRL 24.3 billion (USD 14.6 billion).
This new spending plan, which will be used for potential acquisition and buying new operating licenses, surpasses the BRL 16 billion (USD 9.6 billion) it spent on the Brazil telecom market between 2007 and 2010.
The new spending plan shouldn't be all that surprising.
Last year, Telefonica said it would not only spend BRL 930 million (USD 560 million) on expanding broadband availability in Brazil via its wireline division Telesp, but also spend another BRL 5 billion (USD 3 billion) to expand wireline and wireless network infrastructure.
For more:
- TeleGeography has this article
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