Telefónica to spend USD7 billion over four years on Brazilian ops.

19 Jan 2007

Spanish telecoms company Telefónica is investing BRL15 billion (USD7 billion) in its Brazilian operations over the next four years, the company said in a statement. Telefónica will plough the money into its fixed line, mobile, internet and call centre operations in the country, including an investment in a customer services centre via its Atento unit, which will create upwards of 5,000 new jobs. The Spanish giant has invested BRL29 billion in Brazil since it entered the market in the 1990s. It has declined to comment on whether the new funding will be used for acquisitions.

Brazil, Telefonica, Telefonica Brasil (Vivo)