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Telefonica to spend more than $1.1 bln in Brazil in 2010

SAO PAULO, Brazil, Dec 8 (Reuters) - Spain's Telefonica TEF.MC plans to spend "more than" 2 billion reais ($1.14 billion) in Brazil next year, compared with expected capital expenditures of 2.4 billion reais earmarked for 2009, the unit's chief executive said on Tuesday.

“The investment might be probably bigger than 2 billion reais,” Antonio Carlos Valente told reporters at an event in Sao Paulo. ($1=1.75 reais) (Reporting by Alberto Alerigi Jr.; Writing by Guillermo Parra-Bernal; Editing by Maureen Bavdek)

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