SAO PAULO (BRAZIL), 16 Mar. (EUROPA PRESS) -
The board of directors of Telefónica Brasil has approved a corporate restructuring proposal that involves merging the company's subsidiaries in the country, in order to "rationalize" the provision of services in a single company, which also implies that all its brands in Brazil are unified in Vivo as of April 15.
Specifically, the restructuring, which is pending approval by the Brazilian regulator Anatel, will be carried out through a partial spin-off process and a merger operation of the subsidiaries Companhia A. Telecom, Telefonica Data, Telefonica Sistema de Televisao and Vivo.
In this way, Telefónica aims to streamline the provision of services, simplify the current organizational structure, as well as facilitate the integration of businesses and the generation of synergies derived from this operation.
The company has specified that the mergers and divisions established will not affect the shareholder structure and will not result in a capital increase or the issuance of new shares.
This move is a further step in the merger of the divisions that the company has carried out since the purchase of 30% of Vivo controlled by its Portuguese partner Portugal Telecom through Brasilcel for a price of 7,500 million euros in the summer of 2010.
Thus, almost a year ago Telefónica incorporated Vivo into Telesp under the corporate name of Telefônica Brasil, leaving Vivo as the only commercial brand.
In this sense, Telefónica Brasil has recently reached an agreement with the unions of Sao Paulo and Rio de Janeiro for the execution of an incentivized leave plan in order to adapt the structure of the company in the region after the acquisition of the entire Vivo in 2010 and the merger of its fixed and mobile subsidiaries.
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