Telefonica aims to weather Brazil recession with broadband

Rodrigo Orihuela – Bloomberg Business, 8/31/2015

Telefonica SA’s growth in Brazil will probably be strong enough for the telecommunications provider to withstand the country’s longest recession since the 1930s, according to Chief Operating Officer Jose Maria Alvarez-Pallete.

Telefonica is increasing its share in Brazil’s broadband market as it integrates GVT, the Internet operator acquired from Vivendi SA. The carrier has also manged to stabilize its fixed-lines operation in Sao Paulo, Pallete said.

“The economy won’t help, but the company is improving,” Pallete told reporters late Sunday in Santander, Spain. “We won’t change our plans. The current momentum will continue. We are optimistic toward the medium term.”

Read more…

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s