Telefonica in exclusive talks with investor for Brazil fibre unit

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.

RIO DE JANEIRO, BRAZIL - 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, February 25th.

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 . . .

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