Telefónica closes the agreement for the deployment of a fiber network in Brazil

Share your love

Madrid, Jul 3 (EFE) .- The Spanish company Telefónica has definitively closed the agreement with Caisse de dépôt et placemente du Québec (CDPQ) for the construction, deployment and commercialization of a fiber to the home (FTTH) network in Brazil.

The project involves an investment by the latter company of 1,800 million reais (299.6 million euros at the current exchange rate).

In a statement sent to the National Securities Market Commission, the Spanish stock market regulator, Telefónica informs that the project will be carried out by a joint company called “FiBrasil”.

According to the economic terms of the operation, CDPQ’s total investment includes payments to Telefónica Brasil and contributions to FiBrasil for 50% of the capital of this company.

In this same operation, Telefónica Infra will make payments to Telefónica Brasil for a value of 25% of FiBrasil.

(c) EFE Agency

Article Source

Read Also   US advises Meta and Google to license fiber optics to the Philippines and Taiwan
Share your love