The board of Brazil’s national development bank BNDES approves a loan of USD779 million for domestic mobile operator TIM Brasil, media reported. according to BNDES the funding would be used to underpin the operator’s investment plans for the period 2009 to 2013. This loan will be repaid to the bank within the span of 5 years. This fund will be used for
- Network modernisation and expansion (including 3G deployment)
- Systems optimisation and related customer services
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Brazil’s national development bank BNDES has approved a BRL1.5 billion (USD772 million) loan for the country’s largest mobile operator Vivo, writes BNamericas. The loan will be used to allow the cellco to complete its GSM overlay project, as well as for other general network improvements. Vivo, a joint venture between Spain’s Telefónica and Portugal Telecom (PT), is active in 19 out of the country’s 27 concession areas. Last year it invested more than BRL2.1 billion in its networks, more than half of which was set aside for installing a GSM overlay on its CDMA network. To date, Vivo has implemented GSM in 2,295 municipalities. The loan will also help facilitate the migration of services to 3G, it said in a statement.
Wireless Mobile Telecom Wireless News
BNDES gives green signal to fund TIM Brasil worth USD779 mln (Brazil)
