GVT cuts investment target for 2009

6 Feb 2009

Brazilian telecoms operator Global Village Telecom (GVT) has cut its 2009 CAPEX budget to USD500 million, down from the USD700 million it spent in 2008, but the company’s marketing director Ricardo Sanfelice says the move has nothing to do with the current global financial crisis. GVT is keeping a close eye on its expansion plans in light of the introduction of number portability (NP) in Brazil last September, and will roll out new services in areas where NP is available. To that end, it intends to invest USD22 million in expanding its local networks in Brasilia and its satellite cities to prepare for the introduction of NP there from 9 February.

Brazil, Global Village Telecom (GVT)