Telemar predicts USD8.6 billion in revenues for 2003

25 Nov 2003

Brazilian fixed line carrier Telemar has released predictions for its 2003 financial results, estimating gross revenues of BRL25 billion (USD8.6 billion) for the year. The company hopes to have installed 18 million lines by the end of the year, and says it will not move overseas until it has doubled in size to become a serious competitor to its rival Telefónica. It expects its mobile subsidiary Oi to have 3.8 million subscribers by the end of 2003, rising to five million the following year.

Brazil, Oi