SAO PAULO (Dow Jones)--Billionaire investor George Soros will invest some 500 million Brazilian reais ($251 million) in small Brazilian telecommunications holding Quattro Telecomunicacoes/Sunrise, newspaper Valor Economico reported Wednesday.
The holding will use the investment to participate in the auction of airwaves for use in fourth-generation wireless networks, which is expected to take place in mid-June, said the report, citing company's director of operations, Carlos Andre de Albuquerque.
The company seeks to explore Brazil's cable TV and broadband industry. The investment into the Brazilian holding will be made via a fund managed by Soros Fund Management LLC, said the report.
Quattro Telecomunicacoes/Sunrise officials could not immediately be reached for comment.
-By Rogerio Jelmayer, Dow Jones Newswires; 55-11-3544-7071; rogerio.jelmayer@dowjones.com
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