Telefónica, CDPQ open fiber optic business in Brazil

Telefónica, CDPQ open fiber optic business in Brazil

Corporate & Sovereign Strategy Debt Equity Project & Infrastructure Finance Technology Structured Finance Telecoms Fixed-Line Latin America South America Brazil Canada Spain Europe

The Brazilian subsidiary of the Spanish telecommunications company Telefónica said Tuesday that it has formed a joint venture with the Canadian pension fund manager Caisse de dépôt et placement du Québec (CDPQ) to develop a fiber optic network in Brazil. CDPQ will invest BRL1.8 billion ($320 million) and hold a 50% stake in the new company, FiBrasil Infraestrutura e Fibra Ótica, according to Telefónica. FiBrasil will build and operate a "neutral and independent optical fiber wholesale network" i

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