Oi SA sets out BRL1bn investment plan for 4G expansion

Oi SA has revealed it is looking to spend BRL1 billion (USD494.3 million) on the development of its 4G Long Term Evolution (LTE) network in the country over the period 2012 to 2015. The carrier’s CEO Francisco Valim said that his company is looking to extend LTE coverage to 50% of the population in seven Brazilian cities by April 2013 – ahead of the country’s hosting of several major sporting events, including the 2014 Football World Cup. The Oi official said that the operator is aiming to sign contracts with as yet unspecified vendors for 4G equipment on 16 October.