Telefonica releases prelim results; cleared of monopolistic practices

2 Feb 2009

Telefonica Chile has reported preliminary results for the year ended 31 January 2008 which show a 1% fall in revenues to CLP685.27 billion (USD1.14 billion). Operating profit for the twelve month period slipped by over a quarter, from CLP76.8 billion to CLP57.1 billion, while net profit rose from CLP11.82 billion to CLP17.6 billion.

In a separate but related announcement Chile’s anti-monopoly regulator, the Tribunal for the Defence of Free Competition (TDLC) said it rejected a lawsuit brought by Telmex alleging monopolistic practices by Telefonica Chile. The TDLC said it rejected the lawsuit because there was no evidence that Telefonica had taken actions meant unequivocally to impede, restrict or obstruct freedom of opportunity.

Chile, Telefonica Moviles Chile (Movistar)