Vivo completes restructuring exercise

31 Mar 2006

Brasilcel (Vivo), the Brazilian joint venture of Portugal Telecom and Telefónica Móviles, has restructured its local mobile units into one entity in a bid to cut costs and improve liquidity. Under the reorganisation Tele Sudeste Celular Participacoes, Tele Leste Celular Participacoes, Tele Centro Oeste Celular Participacoes and CRT Participacoes have been merged into Vivo Participacoes which will begin trading on the local stock exchange on Friday under the Vivo brand name.

Brazil