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  HOME | Business & Economy (Click here for more)

Spainís Telefonica Restructures Latin American operations

SAO PAULO Ė Spainís Telefonica has announced a restructuring in Latin America, where the groupís operations will now be divided into three divisions.

One of the three units will encompass the Brazilian market Ė the regionís largest Ė and be headed by the current managing director of Telefonica Latin Americaís mobile division, Luis Miguel Gilperez Lopez, the company said in a statement.

The second division will group Argentina, Chile, Colombia, Ecuador, Peru and Uruguay, a region in which the Spanish group has integrated its fixed-telephony and cellular operations.

The third division comprises Mexico, Venezuela and Central America, where Telefonica only provides mobile services.

Telefonica has close to 70 million customers in Brazil, including fixed lines in Sao Paulo state and subscribers to the companyís wireless operator, Vivo.

Telefonica in July acquired Portugal Telecomís 50 percent stake in Brasilcel, the holding company that in turn owns 60 percent of Vivo. The deal gave the Spanish group, which already owned the other 50 percent stake in Brasilcel, full control over Brazilís largest wireless operator. EFE
 

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