Telefonica to make further investment in Brazil
Date added: 23rd February, 2010 at 13:37
(view all articles from February, 2010)
Categories: Economy
Telecommunications company Telefonica is to make a further investment in Brazil.
The firm has said it will make an investment of $1.27 billion (£819 million) in the country this year to benefit its range of services.
Antonio Carlos Valente, Telefonica's chief executive in Brazil, said the investment would be about the same as the company had made in the country in the previous 12 months.
This comes after recent research by telecommunications regulator Anatel revealed there were 1.64 million more subscribers to mobile services in Brazil during the month of January compared to the previous month.
Anatel said that the number of mobile users in Brazil is now up to 175.6 million, an increase of almost one per cent from December.
The news may persuade more telecommunications companies to make an investment in Brazil as growth in the sector in the Latin American country appears to show no signs of slowing.
Telefonica's Vivo is the current market leader with a share of a 29.87 per cent share of subscriptions.
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