Telefónica Strengthens Commitment to Brazil, Plans Continued Expansion in Key Market

Telefónica Strengthens Commitment to Brazil, Plans Continued Expansion in Key Market

(IN BRIEF) Telefónica’s Chairman, José María Álvarez-Pallete, met with Brazilian President Luiz Inácio Lula da Silva to reaffirm the company’s strong commitment to Brazil, one of its key markets. Telefónica, which leads the Brazilian telecommunications market through its Vivo brand with over 113 million customers, plans to continue expanding its network, customer base, and fiber optics infrastructure in the country.

(PRESS RELEASE) MADRID, 24-Aug-2024 — /EuropaWire/ — Telefónica, a leading global telecommunications company, has reinforced its long-term commitment to Brazil, one of its most crucial markets. During a meeting today between Telefónica’s Chairman, José María Álvarez-Pallete, and Brazil’s President, Luiz Inácio Lula da Silva, the company reiterated its dedication to expanding its presence and enhancing its services in the country.

Álvarez-Pallete emphasized Brazil’s significance to Telefónica, highlighting the country as one of the company’s top four markets globally. He pointed out that Brazil, alongside Spain, contributes substantially to the Group’s overall revenue, margin, and cash flow. Telefónica, which has been a key player in Brazil since 1998, continues to lead the market under its Vivo brand, boasting over 113 million customers.

Looking ahead, Telefónica plans to strengthen its market leadership by expanding its customer base, advancing its differentiated network infrastructure, and leveraging opportunities in fiber optics (FTTH) and network sharing. This strategic focus is aimed at ensuring Telefónica remains at the forefront of Brazil’s telecommunications sector.

Media Contact:

Dirección de Comunicación Corporativa
prensatelefonica@telefonica.com

SOURCE: Telefónica, S.A.