Machado Meyer advises in US$210 million joint venture

Telefônica Datacorp SA of Spain, and Telefônica Data Brasil Holding SA, with Banco Itau SA, have finalised a joint venture for the exploitation of outsourcing and telecommunication services for corporate networks, including Banco Itaú SA. The deal was concluded on June 27 with an investment by Telefónica of US$210 million.