Brazil approves Spanish telecoms holdings Vivo, the country's largest operator

Beijing time September 25 morning news, according to foreign media reports, the Brazilian Telecommunications Regulatory Authority (ANATEL) said in Friday, has been conditional on the approval of the Spanish Telecom (Telefonica) to spend 9.7 billion U.S. dollars holding Brazil's largest mobile operator vivo trading.　　To complete the deal, Telefónica needs to ensure that Vivo expands its 3G service in Brazil, covers some cities that still do not have access to the mobile phone network and allows universities to access Vivo's fibre-optic network, the Brazilian Telecommunications Regulatory Authority said in a statement.　　The Brazilian telecoms regulator said the agency would penalize Telefónica and even overturn the deal if the conditions were not met.　　Telefónica said in July this year that it had agreed to buy all of Portuguese Telecom's stake in vivo to control the Brazilian operator.　　Telefónica and Portuguese telecom, through their joint venture in Brazil, Brasilcel a total of 60% per cent of vivo.　　Portugal Telecom finally agreed to sell its stake after two times in Telefónica, saying it would build a "strategic partnership" with 4.8 billion of Brazil's fourth-largest mobile operator in the deal.　　Thanks to the saturation of the local market, both Telefónica and Portuguese telecom have seen the fast-growing Brazilian market as a big opportunity. Conditional approval of the deal by the Brazilian Telecommunications Regulatory Authority suggests that the deal has now been transferred to the Brazilian Council for the Protection of the economy (administrative Council on economic Defense), which is mandated to protect market competition. (Si yuan)