Net Servicos to spend USD1.5bn in 2012 to double coverage

Brazilian cable TV and broadband provider Net Servicos, owned by Mexico’s America Movil, plans to invest up to USD1.5 billion this year to double the number of cities in which it operates, BNAmericas reports. Earlier this week the cableco revealed plans to extend coverage to at least 50 more cities, some of which include those where it already offers broadband and voice on networks installed by Embratel. The operator said that historically, the issue of a lack of requisite licences had slowed its expansion plans, but following the complete exit of the Globo group from the control of Net Servicos, which should take place by mid-September 2012, this problem could be resolved and the necessary authorisations issued.