Telefonica Brasil to invest USD7.2bn by 2017

20 Aug 2015

Telefonica Brasil (Vivo), the local unit of Spain’s Telefonica group, plans to invest at least BRL25 billion (USD7.2 billion) in its business between 2015 and 2017, according to a securities filing submitted this week. The filing with the Sao Paulo stock exchange (BM&FBOVESPA) clarified a media report earlier in the week about its possible investment plans for the three-year period. As such, Vivo plans to invest BRL8.4 billion this year, BRL8.8 billion in 2016, and the remainder in 2017. However, Telefonica has cautioned that the figures could yet be adjusted due to changes in the country’s macroeconomic climate.

Brazil, Telefonica Brasil (Vivo)