Investment in Brazil drives company growth
Date added: 1st March, 2010 at 09:33
(view all articles from March, 2010)
Categories: Economy
Making an investment in Brazil has helped one of the world's largest media companies to grow over the last year, it has been stated.
French media conglomerate Vivendi said making an investment in Brazil by buying the country's fastest-growing telecoms operator GVT helped it to have a successful 12 months last year.
Jean-Bernard Levy, chairman of the management board, stated that the company reached its operational targets for 2009.
"This good performance reflects our commercial successes, strict cost control and the innovative initiatives taken by all the businesses," he commented.
Mr Levy added that he expected the company to continue to grow during 2010.
This comes after a study from Companiesandmarkets.com stated that more and more Brazilian homeowners were looking to install broadband in their homes.
The report added that investment in Brazil was needed by operators in order to meet the increasing demand for broadband in the Latin American country.
Brazil is already the largest market in South America for telecoms firms.
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