June 30, 2011 / 10:47 PM / 7 years ago

Brazil Oi, Telefonica sign on to gov broadband plan

BRASILIA, June 30 (Reuters) - Brazil’s largest telecom group Oi TNLP4.SA, Telesp TLPP4.SA, CTBC and Sercomtel will participate in Brazil’s National Broadband Plan, Communications Minister Paulo Bernardo said on Thursday.

Bernardo said the plan aims to expand high-speed Internet of 1 megabyte per second across Latin America’s largest economy of 200 million people at a cost of 35 reais ($22) a month.

Telesp is the local subsidiary of Spain’s Telefonica (TEF.MC). Oi is Brazil’s largest telecommunications group and its largest shareholder Portugal Telecom PTC.LS.

The companies are expected to start offering the economical broadband Internet in the next 90 days. (Reporting by Leonardo Goy; Writing by Reese Ewing; editing by Carol Bishopric)

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