Chilean telco VTR GlobalCom posted revenues of USD300 million in 2004, 15% up over the previous year. VTR also reported an increase in operating profits to USD50 million, from USD3 million in 2003. Its number of mainlines in operation increased by 14%, whilst its broadband subscriber base grew by 36%; cable customers rose by 6%.
VTR entered Chile’s telecoms market in 1998 when it began providing telephony services over its cable TV networks. By the end of 2001 it had become the country’s second largest local telephony provider and has remained so ever since. The company is wholly owned by United GlobalCom.