Telecomunicacoes de Sao Paulo (Telesp), the Brazilian arm of Telefonica (NYSE: TEF), plans to plunk down $519 million to expand broadband networks and services throughout Brazil this year.
As one of the largest regions it serves in Latin America, Telefonica continues to make large financial commitments to expand services in Brazil. Telefonica announced in May that it would spend a total $2.78 billion to build out wireline and wireless network infrastructure in Brazil this year.
Since entering the Latin American telecom market in the 1990s, Telefonica has invested over $110 billion in the region. Last year, Telefonica, which also has a 50 percent stake in Brazil's largest wireless operator Vivo Participacoes, invested $1.92 billion in Brazil's telecom market.
- TeleGeography has this article
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