Telesp secures USD1.1bn loan from BNDES

12 Oct 2007

Telefonica of Spain’s Brazilian fixed line unit Telesp has secured a BRL2 billion (USD1.1 billion) loan from the Brazilian Development Bank (BNDES) to fund the upgrade and modernisation of its network and services. The loan, one of the biggest approved by the BNDES, will allow Telesp to focus on launching new products and services such as IPTV and satellite pay-TV, as well as increasing the operator’s capacity to connect to other operators’ networks in Sao Paulo state. Telesp also intends to use the monies to expand and improve its provision of voice, data and video networks.

Brazil, Telefonica Brasil (Vivo)