Brazilian telecoms operator Telecomunicacoes de Sao Paulo (Telesp) plans to invest BRL930 million (USD519 million) in its broadband networks and services in 2010. In May this year CommsUpdate reported that the operator’s Spanish parent Telefonica revealed it was spending a total of BRL5 billion in Brazil in 2010 to improve both its fixed line and mobile telecoms services. At the time the group’s head of Latin American operations Jose Maria Alvarez Pallete told reporters that Telefonica has invested a total of USD110 billion in the region since it entered Latin America in the 1990s. The Spanish heavyweight, which invested BRL3.4 billion in Brazil last year, owns Telesp and has joint control of the country’s largest mobile operator by subscribers, Vivo Participacoes. Portugal Telecom owns the other 50%.