Through its account on the social network Twitter, the company Telefónica announced that in the next two years it will invest US$270 million in Venezuela.

The telecommunications company has indicated its willingness to disburse the aforementioned amount in future plans and projects that include the updating and improvement of telecommunications networks.

Likewise, Telefónica indicated that the investment for the next two years includes innovations in systems and equipment, “after having slowed down its actions in the country in recent years.”

The president of Telefónica Movistar Venezuela, José Luis Rodríguez Zarco, pointed out that given the signs of reactivation that the economy of the South American country is showing, the company is preparing to “be part of that recovery.”

According to the CEO of Telefónica in Venezuela, the investment planned for 2023 and 2024 will proceed to the reconditioning of the systems, acquisition of new telecommunications equipment, as well as work on the technological platforms, the “energy backup system and recovery of seasons”.

M.Pino

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Source: finanzasdigital

La entrada Telefónica will double investment in Venezuela apareció primero en Bitfinance.

Telefónica will invest three million dollars (2.9 million euros at the exchange rate) in the Brazilian ‘fintech’ Klavi through its investment fund in the country Vivo Ventures, as announced on Thursday by the Brazilian subsidiary of Telefónica, which has indicated that the investment of the operator will be carried out through promissory notes convertible into shares.

Klavi is a company that offers open finance solutions through a software-as-a-service platform that enables its clients to develop financial products and services faster.

The firm was founded in February 2020 and had already raised $1.5 million (€1.4 million) a year ago in a previous seed round backed by Brazilian investment funds Parallax Ventures and Iporanga Ventures.

For Telefónica, this investment represents the first operation of its new Vivo Ventures fund, which has 320 million reais (60.4 million euros) to invest in startups that complement its offer in Brazil.

Telefónica Brasil already announced when presenting results for the first semester that it had closed a list of 20 startups preselected to invest and that it would begin to close operations soon.

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Source: dpa

La entrada Telefónica invests almost three million dollars in the Brazilian fintech Klavi apareció primero en Bitfinance.

The telecommunications multinational Telefónica expects to make its first investments from Vivo Ventures in the coming months, a fund created by the company in Brazil of 320 million reais, equivalent to 60.4 million euros, with the purpose of investing in consumer-oriented startups and complement their offer in the South American country.

The investment fund will have a duration of five years and will focus on sectors such as health, education, finance, home, digitization, entertainment and marketplaces.

Telefónica’s headquarters in Brazil already has a Wayra open innovation hub in Sao Paulo and has made small investments in the country such as the edtech Qranio, the fintech Monkey Exchange and the digital health firm Proradis.

The company, during its presentation of results for the second quarter, explained that the management of the fund has selected some 20 companies in which it would like to undertake an investment.

Diversifying offers

Telefónica is searching for startups in Brazil simultaneously with the diversification of its offer with new booming businesses such as consumer loans and digital education. The first of these, Vivo Money, is a digital loan service that, since October 2020, has granted more than 80 million reais in financing, about 15 million euros.

On the other hand, the company is planning for the end of 2022 the “launch of VivaE, a digital education joint venture with Ánima Educaçao. Both companies have already selected the management team and aspire to complete their base product MVP, for its acronym in English, in the coming months.

M. Rodríguez

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Source: negocios.com

La entrada Telefónica will close the first investments of its Brazilian fund apareció primero en Bitfinance.

The Spanish multinational telecommunications company Telefónica plans to present its products and its metaverse and web3 recommendations within the framework of the Southern Conference System at the end of next September, as reported by the director of Telefónica’s Digital unit, Chema Alonso.

According to Alonso, the demand from telecommunications and service companies is quite high and it is important “to meet these requirements. “Telefónica must be the pioneer company in this field as the largest technology company in Spain”.

The main Telecommunications company in Europe has indicated its interest in these new technologies, to the point that it has made important changes in its organizational structure in order to take on these new challenges.

At the Telefónica World Conference in Barcelona, ​​held recently, the company participated in the creation of an innovation center in Madrid in alliance with Meta, and also presented its metarverse director, Yaiza Rubio.

Integration of services and businesses in the metaverse

Alonso also indicated that Telefónica’s innovation area has professionals specialized in the development of products and technology “such as Web3, cryptocurrencies or tokens. In addition, the unit has 80 open spaces”.

According to the director, the main element in the approach of the telecommunications operators is the “proposition of integration of the service with its business, something that Telefónica always values”.

For his part, José María Álvarez Pallete, the president of Telefónica, pointed out the potential of the metaverse and Web3 in public intervention.

During the World Conference, Álvarez Pallete made reference to the changes that, from his perspective, the metaverse and Web3 will bring about in the business environment, highlighting that the “winners of this new internet era do not have to be the same ones that dominate the digital society.”

M. Rodríguez

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Source: prensamadridsur.es

La entrada Telefónica will present its products in the metaverse apareció primero en Bitfinance.

Telefonica gained a lot of spectrum destined for 5G in the 3.5 GHz band for 420 million reais (65 million euros) in the Brazilian frequency auction that began last Thursday.

The company thus acquires one of the 80 MHz regional batches in the main strip for the development of 5G in the South American country for which it has paid 30 % more than its starting price, as confirmed by Europa Press.

The block carries with it obligations to install base stations in a minimum proportion of one per 10,000 inhabitants, as well as to solve the problems that may arise for the reception of free-to-air television to those affected.

Likewise, it must participate in the implementation of the Integrated and Sustainable Amazonia (PAIS) program and in the Private Communication Network project of the Federal Public Administration.

Together with Telefonica, Claro and Telecom Italia, their two main rivals, have acquired equivalent blocks, which have paid respectively 338 million reais and 351 million reais (52 and 54 million euros), for 5.18 % and 9, 22 % above the starting prices.

The reason why Telefonica’s band is more expensive is because it is the one in the middle with which it has the possibility of reaching agreements to share a network and continue to maintain its continuous spectrum with its two competitors.

The auction is still ongoing and is expected to end this Friday when the regional stripes are also auctioned, as well as those that are left deserted in a first round.

Source: dpa

La entrada Telefonica obtained a first lot in the 5G auction in Brazil for 65 million apareció primero en Bitfinance.

The telecommunications company Telefónica has announced the sale of 60 % of its infrastructure company in Chile called InfraCo to the international investment firm KKR, for 600 million dollars, as reported this Monday by the National Commission of the Stock Market (CNMV). 

The statement indicates that the transaction values ​​InfraCo at 1,000 million dollars, equivalent to 822 million euros. This figure represents a multiple over Oibda 2020 of 18.4 times.

As reported by Telefónica in a press release after the announcement, the agreement is expected to be finalized in the first half of the year to fulfill profitable growth, value maximization and new models being developed that allow modulating the exposure of the group to the region.

Each of these objectives would comply with the operational and management model established by the telecommunications company and give continuity to the segregation strategy of its business unit in Latin America.

It is important to highlight that Telefónica has kept working on this expansion strategy to continue offering its services in the main markets of the world such as: Spain, Brazil, Germany and the United Kingdom. 

K.Vilarroel

Source: bancaynegocios

La entrada Telefónica sells 60% of its subsidiary in Chile  apareció primero en Bitfinance.