Brazil: Vivo triples investments in 2008

28 March 2008

Sao Paulo, Brazil, 28 March – The shareholders of Brazilian telecommunications company Viva, Portugal Telecom and Spain’s Telefónica, Thursday in Sao Paulo approved an investment plan for 2008 totalling 6.07 billion reais.

The approved investment plan for 2008 is over three times higher than that for 2007, a year in which the company invested 1.92 billion reais, although it is not known if this year’s investment includes the purchase price of carrier Telemig, for 1.3 billion reais.

The figure announced by the company is also higher than the figures announced by rivals, TIM and Claro, which plans to invest 3.6 billion reais and 700 million reais, respectively.

The figure announced by Claro does not include a sum of 1.4 billion reais that the company will pay for third generation telecommunications licenses. (macauhub)