{"id":108454,"date":"2021-03-02T23:05:00","date_gmt":"2021-03-02T23:05:00","guid":{"rendered":"https:\/\/fin2me.com\/?p=108454"},"modified":"2021-03-02T23:05:00","modified_gmt":"2021-03-02T23:05:00","slug":"canadian-pension-fund-cdpq-to-invest-up-to-317-million-in-brazil-fiber-network-with-telefonica","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/canadian-pension-fund-cdpq-to-invest-up-to-317-million-in-brazil-fiber-network-with-telefonica\/","title":{"rendered":"Canadian pension fund CDPQ to invest up to $317 million in Brazil fiber network with Telefonica"},"content":{"rendered":"

BRASILIA (Reuters) – The Brazilian unit of Spanish telecom Telefonica SA said on Tuesday that it had agreed with Canadian pension fund CDPQ to create a joint venture to develop a \u201cneutral and independent\u201d wholesale fiber optic network in Brazil.<\/p>\n

According to a securities filing, Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec (CDPQ) will invest up to 1.8 billion reais ($317 million) in the venture, receiving a 50% voting share. Telefonica Brasil will have a 25% voting stake, while Telefonica Infra, another subsidiary of the Spanish company, will have the remaining 25% share.<\/p>\n

The new venture, called FiBrasil Infraestrutura e Fibra \u00d3tica S.A., aims to reach 5.5 million households within 4 years.<\/p>\n

Telefonica will be an \u201canchor customer\u201d for FiBrasil and contribute some 1.6 million homes already in service.<\/p>\n

Telefonica Chief Operating Officer Angel Vila said last week that the company was in talks with an investor to expand high speed fiber coverage to more Brazilian cities, following a similar project in Germany with insurer Allianz. Vila had not named the investor in the Brazil project at the time.<\/p>\n

($1 = 5.6761 reais)<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

BRASILIA (Reuters) – The Brazilian unit of Spanish telecom Telefonica SA said on Tuesday that it had agreed with Canadian pension fund CDPQ to create […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nCanadian pension fund CDPQ to invest up to $317 million in Brazil fiber network with Telefonica - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/canadian-pension-fund-cdpq-to-invest-up-to-317-million-in-brazil-fiber-network-with-telefonica\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Canadian pension fund CDPQ to invest up to $317 million in Brazil fiber network with Telefonica - 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