Telefônica Brasil Announces Major Service Transition Deal

Telefonica Brasil (VIV) has released an update.

Telefônica Brasil S.A. reaches an agreement to transition its fixed telephone service from a concession regime to an authorization model, with the proposed terms including the resolution of various legal disputes and a commitment to public interest pledges over the next decade. The agreement is pending necessary approvals from governance entities, including the Federal Audit Court, and will involve maintaining fixed telephone services in specific locations until 2028. The company promises to keep shareholders and the market updated on the progress of the agreement.

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