Leading Brazilian cellco Vivo announced in late December that it plans to merge its shares into fixed line operator Telecomunicaciones de Sao Paolo SA (Telesp) in 2011.
Both operators are owned by Spain’s Telefonica.
In a joint statement on December 27,…
Leading Brazilian cellco Vivo announced in late December that it plans to merge its shares into fixed line operator Telecomunicaciones de Sao Paolo SA (Telesp) in 2011.
Both operators are owned by Spain’s Telefonica.
In a joint statement on December 27, Telesp and Vivo said that they believed the plan would simplify the organisational structure and rationalise the cost structure of the two companies.
Last July, Telefonica reached an agreement with JV partner Portugal Telecom to buy its 50% stake in Vivo for E7.5bn, achieving its goal of controlling the entirety of the mobile operator, which it wanted to combine with Telesp.
