Telefonica Brasil SA expects to invest 24 billion reais ($7.11 billion) from 2017 through 2019 to expand 4G coverage and fiber networks, the company said on Monday in a securities filing.
The amount does not include investments in new operation licenses, Telefonica Brasil added. A new chief executive officer, Eduardo Navarro, is at the helm of Brazil's largest phone carrier since last week. ($1 = 3.3773 reais)