Unconfirmed reports in The Financial business journal say that KfW IPEX-Bank and Nordea bank have agreed a deal with Brazilian telco Telemar Norte Leste (Oi) to help finance the expansion of its mobile data networks in the country. It is understood the banks are each offering TNL (Oi) a loan worth USD100 million, with Nokia Siemens Networks (NSN) supplying the equipment under a ten-year agreement signed at the end of 2011. High speed internet access, and in particular mobile broadband, is a hot topic in Brazil where rapid growth is expected in the coming years – fuelled by its imminent hosting of two big sporting events, the football World Cup in 2014 and the Olympic Games in 2016, which is taking place in Rio de Janeiro.
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OVETEL TNL (Oi) secures funding to complete mobile data network expansion
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