GVT to use IPO to pay debt, fund expansion and increase capital

13 Apr 2006

Brazilian telecoms operator Global Village telecom (GVT) says it will use the proceeds of its upcoming IPO to pay off debts, finance its network expansion, and increase capital. 60% of the money raised will be used to pay off loans, while a further 26% is being set aside to increase the coverage of its fixed line network. GVT has around a million fixed lines in service and is investing USD93 million in 2006 to sustain its 30% annual growth rate. Its strategy is to increase its customer base by offering bundled services that include voice, broadband internet access, VoIP and corporate solutions.

Brazil, Global Village Telecom (GVT)