GVT wins USD52.8 million loan

27 Oct 2005

Brazilian fixed line operator Global Village Telecom (GVT) has been granted a BRL120 million (USD52.8 million) loan from national development bank BNDES. The telco plans to use the funds to increase the number of installed lines by 34% from 744,000 to 997,000 by the end of 2006. The telco says it will install new lines in the states of Rio Grande do Sul, Santa Catarina, Parana, Goias, Mato Grosso do Sul, Acre, Tocantins, Rondonia and Brasilia.

In a separate story, GVT has redefined its focus to being a services integrator rather than a basic telecoms provider. The company is planning to launch a new service – Vox3G – which will allow users to converge traditional calls, VoIP and internet services. The operator has invested BRL70 million (USD30.8 million) into the product.

Brazil, Global Village Telecom (GVT)