European companies show interest in investing, says ministry

- Wednesday, October 12, 2011

European companies show interest in investing, says ministry

Different European operators have approached Brazilian communications minister Paulo Bernardo to express their interest in investing in the country's telecoms sector, the ministry said in a statement.

Bernardo joined President Dilma Rousseff on a series of official trips to Brussels and Paris, where the minister met with chief executives and other representatives from major companies.

One of them, according to the ministry, was Access Industries CEO Jean-Daniel Fouchard. The company, of British capital, operates in Scandinavian countries and has shown interest in a Brazilian public tender scheduled to take place April 2012. The tender will be for the 450 MHz band, aimed to serve country's rural areas. Fouchard will reportedly soon arrive in Brazil to address this and other issues.

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Bernardo also met with Telecom Italia (NYSE: TI) CEO Franco Bernabe, according to the statement. At the time, Bernabe told the minister that Brazil is a priority and strategic for Telecom Italia, which controls local telecom operator TIM, and that his company intends to deploy some 7,000km of fiber optic network cable to expand its presence in the country.

France's Vivendi Group CEO Jean-Bernard Levy noted that his company is seeking to diversify its investments over the next five years in Brazil, where it owns telecom carrier GVT. According to the executive, Vivendi will be focusing on the country's pay-TV, audio and video content and game development segments.