Algar to invest BRL1 billion over five years

摘要

Brazilian group Algar Telecom has revealed plans to invest BRL1 billion (US$556 million) over the next five years, with a focus on ramping up its network-expansion program. Algar Telecom, the communications arm of the Algar Group, recently confirmed a partnership with the Energy Company of Minas Gerais (Ce-mig) to provide telecommunications services to residential users in condominiums via the utility firm's network. Financial details of the deal were not disclosed, but the Algar financial director, Tatiana Panati, said the deal will include voice, broadband and TV services.