Telefonica expands foreign operations

7th Dec 2011 12:08

Telefonica Brasil president Antonio Carlos Valente stated that he plans to increase investments in order to reach a million broadband customers in the country by 2015. The parent company estimates investments worth 24.3bn reales (around €10.1bn) in the country between 2011 and 2014.Additionally, the Spanish telecoms firm will operate a free wireless network for Tesco stores in the United Kingdom. The British retailer plans to expand the service to all of its stores in the country following a successful pilot program. Telefonica will be the technology provider for free service to all Tesco members, while non-member customers will be able to access the service for free during 15 minutes every 24 hours.By midday in Madrid, Telefonica was up 0.35% at €14.14, while Tesco fell 0.85% to 395.35p at 11:00 in London.JM