Telecoms operator Vivo to invest 2.6 billion reals in Brazil

17 July 2009

Brasilia, Brazil, 17 July – Brazilian telecommunications operator Vivo, a company equally-owned by Portugal Telecom and Spain’s Telefonica, plans to invest 2.6 billion reals in Brazil, the chief executive of the Portuguese group said in Brasilia Thursday.

“In 2008 we invested the same amount which means that within two years Vivo is investing around 5 billion reals in Brazil,” said Zeinal Bava.

“That shows great confidence in the economy,” said Bava, at a press conference, after a meeting with Brazilian President, Luíz Inácio Lula da Silva.

The chairman of Portugal Telecom also said that the tax burden of third generation mobile telephony “is very high” in Brazil, accounting for around 44 percent of revenues.

“From our point of view, democratisation of access to the third generation or the Internet, via mobile phone, has to necessarily be carried out by some redistribution of that tax burden,” he said.

“It is impossible to put Brazil on the front line in the world in terms of broadband Internet and penetration of computers with more attractive tariffs for computers,” he said. (macauhub)