Brazil's Vivo Plans To Invest $2.08 Billion In 2011
24 February 2011 - 11:44PM
Dow Jones News
Brazil's leading cellular operator, Vivo Participacoes (VIV,
VIVO4.BR), is planning to invest 3.48 billion Brazilian reais
($2.08 billion) in its operations in 2011, the company said
Thursday in a statement.
"Such amount contemplates expenditures with frequencies acquired
at the Anatel's (local telecommunication regulator) Auction held in
last December 2010. The licenses value was estimated at BRL782
million, although the actual amount to be paid and the terms will
comply with the rules established in the bidding documents," the
company said.
By comparison, in 2010, the company invested a total of BRL2.5
billion in its operations.
Vivo, which is controlled by Spain's Telefonica SA (TEF,
TEF.MC), said that its capital-budget proposal still must be
approved by company's shareholders.
-By Rogerio Jelmayer, Dow Jones Newswires; 5511-3544-7071;
rogerio.jelmayer@dowjones.com
Telefonica Brasil (NYSE:VIV)
Historical Stock Chart
From Apr 2024 to May 2024
Telefonica Brasil (NYSE:VIV)
Historical Stock Chart
From May 2023 to May 2024