Brazil's BNDES Lends BRL3 Billion To Telefonica's Vivo

Date : 09/20/2011 @ 4:34PM
Source : Dow Jones News
Stock : Telefonica Brasil, S.A. Ads (VIV)
Quote : 14.79  0.1 (0.68%) @ 3:59PM

Brazil's BNDES Lends BRL3 Billion To Telefonica's Vivo

Telefonica Brasil, S.A. Ads (NYSE:VIV)
Historical Stock Chart

5 Years : From Apr 2012 to Apr 2017

Click Here for more Telefonica Brasil, S.A. Ads Charts.

Brazil's national development bank, or BNDES, on Tuesday said it has agreed to lend 3 billion Brazilian reais ($1.7 billion) to mobile phone company Vivo SA, a unit of Spain's Telefonica SA (TEF.MC, TEF).

The money will be used to extend the coverage of the company's 3G-technology network, as well as increase the capacity of its 2G and 3G networks, BNDES said in a statement.

With the 3G network, the company aims to offer mobile internet coverage to more than 85% of Brazilians by the end of this year, according to the statement.

Vivo is also planning to extend the main transmission network which provides the backbone for its operations, according to the statement.

-By Matthew Cowley, Dow Jones Newswires; +55 11 3544 7082; matthew.cowley@dowjones.com




Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.