FiBrasil, joint venture created between Telefonica and CDPQ, starts operating in Brazil

Telecommunications company Telefonica, whose operations in Brazil are branded as ‘Vivo’, has announced that FiBrasil has officially started operating  in the country. The new company is called ‘FiBrasil Infraestrutura e Fibra Ótica S.A., and it is a  neutral fiber optic operator created by Telefonica Brasil, Telefonica Infra -the company’s infrastructure unit-, and the global investment group Caisse de dépôt et placement du Québec (CDPQ).

According to the information that was officially reported, FiBrasil will start its operations in 34 Brazilian cities (1.6 million households) and expects to end 2021 with 500 thousand additional FTTH HPs. In addition, and as reported last March, the Telefonica Group and CDPQ each own a 50% stake in FiBrasil. Telefonica’s stake in the new company  is divided equally between Vivo and Telefonica Infra. Telefonica has also reported that FiBrasil’s team will be led by a CEO and an executive committee, and will feature more than 150 employees.

FiBrasil will start its operations with an initial coverage of 1.6 million homes, and is expected to roll out FTTH infrastructure in 5.5 million households and businesses over the next four years. Vivo is FiBrasil’s first wholesale customer, and it will rely on the new company’s infrastructure to accelerate its plan to expand its FTTH network in the coming years. As officially reported by Telefonica, with FiBrasil, Vivo will reach 24 million FTTH HPs by the end of 2024. In addition, FiBrasil will allow other telecommunications companies access to its network.