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Telefonica to Invest US$14.7B in Brazil

By Anna Fitzpatrick, Contributing Reporter

RIO DE JANEIRO, BRAZIL - Spanish telecommunications giant Telefonica has announced an increased investment of US$14.7 billion (R$24.3 billion) in the telecommunications network in Brazil. Starting this year through to 2014 the company is looking to consolidate their position in the competitive market. The announcement was made last week when CEO César Alierta met with Brazilian President Dilma Rousseff in Brasília.

Funds will be invested in upgrading and expanding communication networks . . .

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