UPDATE 1-Telefonica in exclusive talks with investor for Brazil fibre unit [Reuters]
Telefonica SA (TEF)
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Source: Reuters
By Isla Binnie 2 Min Read (Writes through with COO comments) MADRID, Feb 25 (Reuters) - Telefonica is in exclusive talks with a financial investor about forming a joint fibre optic venture in Brazil, Chief Operating Officer Angel Vila said on Thursday. The Spanish telecoms group is planning to expand high speed fibre coverage to more Brazilian cities, following a similar project launched in Germany in partnership with insurer Allianz . “Brazil is the size of a continent. Our capital expenditure (capex) won’t reach it all,” Vila told Reuters. After speaking to numerous potential partners, the company has entered exclusive talks with an “international operator with a financial and infrastructure profile”, Vila said, declining to name the investor. Talks have advanced, he added, but “in these situations you can never say 100% that you are going to sign.” Earlier Vila told analysts that a second stage of the development could be undertaken through agreements with fibre owners like Americ
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