Telefonica to Invest $8.13 Billion in Brazil by 2020

Date : 03/12/2018 @ 1:31PM
Source : Dow Jones News
Stock : Telefonica Sa (TEF)
Quote : 8.04  0.2 (2.55%) @ 3:59PM

Telefonica to Invest $8.13 Billion in Brazil by 2020

Telefonica (NYSE:TEF)
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   By Nathan Allen 
 

Telefonica SA's (TEF.MC) Brazilian subsidiary will invest 26.5 billion reais ($8.13 billion) in the country between 2018 and 2020, the company said on Monday in a regulatory filing.

The company said around BRL24 billion is earmarked for upgrading and expanding its mobile and fixed networks in the country, while the remaining BRL2.5 billion will be invested in expanding its Brazilian fiber-optic network.

 

Write to Nathan Allen at nathan.allen@dowjones.com

 

(END) Dow Jones Newswires

March 12, 2018 13:16 ET (17:16 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

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