Reino Unido – Agência Reuters – 09/12/2009
Spain’s Telefonica plans to spend more than 2 billion reais ($1.14 billion) in Brazil next year, compared with expected capital expenditures of 2.4 billion reais earmarked for 2009, the chief executive of its Brazilian unit Antonio Carlos Valente said on Tuesday.
“The investment probably will be bigger than 2 billion reais,” Valente said.
Telefonica also was preparing a proposal for a more “aggressive” pricing of its fast Internet access to cope with a rise in competition from France’s Vivendi in the Brazilian market.
Telefonica has been struggling with declining revenue from its fixed-line business and with suspensions due to poor-service quality during 2009.
Problems for Telefonica might be aggravated after its failed attempt to buy Brazilian telecoms company GVT, analysts have said.
The French media giant Vivendi outmaneuvered Telefonica in a process that Valente described as “a little heterodox”.
Valente’s remarks come after market participants and regulators questioned the way Vivendi won control of GVT. In November, Vivendi bought about 37 percent of GVT shares and said it had struck an agreement to buy a further 19 percent stake through irrevocable options with third parties.
Vivendi has acquired so far about 60 percent of GVT.
“We have been abiding by the law and with transparency in our offer for GVT,” Valente told reporters in Sao Paulo.
“(The loss of) GVT was sad for the company.”
A spokesman for Vivendi declined to comment.
Earlier in December Vivendi Chief Executive Jean-Bernard Levy told Brazilian newspaper Valor Economico that the purchase of GVT met all legal and regulatory standards in the South American country. Levy was quoted as saying the French company was “completely transparent” with Brazil’s securities regulator.
Alberto Alerigi Jr