Telemar outlines investment plans

9 Dec 2004

Brazilian telco Telemar has announced plans to invest BRL2.5 billion (USD900 million) next year, with the funds earmarked for the expansion of its mobile and broadband networks. A BNamericas report, which quotes Telemar’s president Ronaldo Iabrudi, says that the company aims to increase its broadband customer base from 480,000 to 750,000 in 2005. It also wants to see its mobile division Oi take the number one position in its franchise areas around Sao Paulo, where it currently trails the Telefónica-Portugal Telecom venture Vivo in the race for subscribers. Telemar had more than 15 million fixed line customers and around 5.1 million mobile subscribers by mid-2004.