Nextel paying less than reported for network use, says Vivo
Nextel Brasil's contract to use Vivo's network is worth less than what has been reported by local media, according to a Vivo securities filing.
The Telefónica-owned operator submitted a filing in response to inquiries from Brazil's securities commission CVM, following the leaking last week of details of the Vivo-Nextel infrastructure sharing contract by daily Folha de São Paulo.
Folha reported that the contract was worth 1.27bn reais (US$577mn), to be paid in five annual installments of differing amounts.
Of the total, the paper said Nextel had already paid 239mn reais to Vivo for the installation of equipment to complement the networks.
According to Vivo's filing, the contract is actually worth 1.03bn reais. The company makes no mention of any initial payment, but stressed that charges take into account estimates of monthly usage for SMS and data and voice services in its 2G and 3G networks.
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News in: ICT (Brazil)
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