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