Telefonica reaffirms Brazil investment strategy

Spain's telecom giant Telefonica is so confident about the prospects of Brazil's telecom market that it said it will spend more than $1.27 billion in the region this year. Last December, Telefonica pledged to spend $1.14 billion in the country.

Although this latest figure is not much more than the $1.21 billion it spent in 2009, Telefonica's CEO in Brazil Antonio Carlos Valente added that capex spending on other units could possibly rise to $1.93 billion. Included in its capex targets are Internet provider Terra, call center services provider Atento and wireless phone company Vivo--a joint venture it runs with Portugal Telecom.

For more:
- Reuters has this article

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