Telefonica increases Brazil four-year CAPEX by 52%

Spanish giant Telefonica is increasing its capital expenditure outlay in Brazil for the period 2011-2014 by 52% over the previous four-year period to BRL24.3 billion (USD14.6 billion) to cater for an anticipated surge in demand for telecoms services in the LatAm region’s biggest economy. The sum includes monies to fund possible acquisitions and operating licences, it said in a statement yesterday, and eclipses the BRL16 billion it spent in Brazil between 2007 and 2010. Telefonica controls the country’s leading mobile carrier by subscribers, Vivo Participacoes, and fixed line operator Telesp.