Brasília, January 9, 2004 (Agência Brasil - ABr) - The Telefônica Company will invest R$ 2.5 billion to R$ 3 billion in Brazil in 2004 5o modernize its system of fixed receivers and cell phones. The information was conveyed yesterday (8) by the company's president in Brazil, Fernando Xavier, to the Minister of Finance, Antônio Palocci. "Due to technological up-dating in general, 10% of the revenue has to be constantly reinvested," Xavier informed. (DAS)