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Telefonica unifies Brazilian assets
Thursday, 12 May 2011 07:12

In the footsteps of last year’s acquisition of Vivo, a complex deal with former partner Portugal Telecom, Spanish bull Telefonica SA declared a new unified structure for its Brazilian presence. In keeping with its promise for a "gradual" melding of operations in Brazil between Vivo and the Spanish telco's existing Brazilian asset, Telesp SA, its top Brazilian executive, Antonio Carlos Valente, will be the chairman of the merged companies, while another Telefonica executive, Luis Miguel Gilperez, will become the CEO. Both fixed and mobile-phone operations would be merged under the combined company, alongwith units aimed at the residential and business markets.

 

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