'Beautiful Brazil - Turning the Dream into a Reality'
Select Language:
Testimonials
"I would like to thank you for all your help..."
Read more >
Call us:
+44 (0)207 538 0102

Telefonica looks to invest in Brazilian mobile phone operator

Date added: 2nd June, 2010 at 10:18
(view all articles from June, 2010)

Categories: Economy

Spanish telecommunications company Telefonica is looking to boost its investment in Brazil by raising a previous bid for mobile phone operator Vivo.

The corporation is currently participating in a joint venture in the South American country alongside Portugal Telecom (PT), the Wall Street Journal reports.

According to the news provider, Telefonica had previously offered €5.7 billion (£4.7 billion) for PT's half of Brasilcel - a holding firm that owns approximately 60 per cent of Vivo.

This offer has now reportedly been increased to between €5.9 billion and €6.8 billion, with a source from Telefonica quoted as saying: "They asked us to raise the price."

The Wall Street Journal noted the joint venture is considered a strategic platform for both organisations, with Brazil being seen as a significant opportunity for growth following "stagnant revenues" in European markets.

PT's shares recently rose 6.4 per cent on the FTSE 100 after news broke of the new bid.ADNFCR-1477-ID-19812588-ADNFCR

Email this article to a friend

Related Articles

Economic stability 'boosts investment in Brazil'

An era of economic stability and upward social mobility has boosted overseas investment in Brazil, while the potential of a consumer-led boom continues to attract speculators, it has been claimed....

Date added: 1st June, 2010 at 14:54
(view all articles from June, 2010)

read more >

General Motors to make R$600 million investment in Brazil

Car manufacturer General Motors is dedicating another R$600 million (£227.08 million) to complete its R$5 billion, four-year strategy for investment in Brazil....

Date added: 1st June, 2010 at 11:18
(view all articles from June, 2010)

read more >

Siemens invest in Brazil to establish base in emerging market

German engineering giant Siemens are to invest in Brazil as part of a €3 billion (£2.55 billion) venture to establish itself in the Bric countries - a group of emerging economies that also includes Russia, India and China....

Date added: 1st June, 2010 at 10:46
(view all articles from June, 2010)

read more >
View News By Category: Apartments (7) • Economy (488) • Florianopolis (18) • Fortaleza (43) • Hotels (51) • Islands (8) • Joao Pessoa (6) • Land (1) • Natal (49) • Natural Resources (208) • Olympics 2016 (39) • Property News (248) • Rio (64) • Salvador (60) • Social and Affordable Housing in Brazil (26) • Tourism (166) • Villas (36) • World Cup 2014 (35) •
Archived News: August 2011 (13) • July 2011 (26) • June 2011 (28) • May 2011 (26) • April 2011 (24) • March 2011 (26) • February 2011 (26) • January 2011 (26) • November 2010 (22) • October 2010 (26) • September 2010 (26) • August 2010 (26) • July 2010 (26) • June 2010 (29) • May 2010 (26) • April 2010 (26) • March 2010 (27) • February 2010 (26) • January 2010 (27) • December 2009 (25) • November 2009 (27) • October 2009 (26) • September 2009 (26) • August 2009 (26) • July 2009 (26) • June 2009 (25) • May 2009 (26) • April 2009 (26) • March 2009 (26) • February 2009 (26) • January 2009 (26) • December 2008 (26) • November 2008 (27) • October 2008 (24) • September 2008 (29) • August 2008 (26) • July 2008 (39) • June 2008 (31) • May 2008 (28) • April 2008 (29) • March 2008 (3) •