Telesp unveils huge 2010 investment

Brazilian telecoms operator Telecomunicacoes de Sao Paulo (Telesp), backed by Telefonica of Spain, revealed it is investing BRL3.50 billion this year, of which BRL2.3 billion will be targeted at developing its fixed telephony, broadband expansion project and pay-TV services, TeleGeography CommsUpdate cites local press reports.

The telco’s FY2009 CAPEX totalled BRL2.22 billion down 5.2 percent compared to 2008. The operator’s announcement follows its recent publication of financial results for the fourth quarter of 2009.

As CommsUpdate reported in January, Telesp’s net profits during the fourth quarter were BRL544.8 million, down 24.7 percent from the same period of 2008.

The operator said the dip was the result of a fall in local service revenues.