News

Telefonica will spend USD1.14 billion in Brazil in 2010, said Antonio Carlos Valente, the chief executive of its Brazilian operations.

The company says that it will also drop prices on high-speed internet services in order to compete with France's Vivendi, who recently bought Brazilian operator, GVT.



Reports last week indicated that Telefonica, which has signed a global agreement with UNI to guarantee worker rights throughout all of their operations worldwide, would challenge Vivendi's purchase of GVT.



Many are questioning the veracity of Vivendi's deal to buy GVT but the French company maintains that it has abided by the law.