Telebras trims net losses in 2009

Brazil’s former telecoms monopoly Telebras reported net losses of BRL20.6 million (USD11.5 million) last year, down 35.2% on the previous year, BNamericas reports Agencia Estado as saying. Telebras has been largely inactive since the Brazilian market was liberalised in 1998; it reported negative equity of BRL16.3 million as at 31 December 2009. The operator posted revenue of BRL31.9 million last year, up 85.4% year-on-year, with total operating revenues of just BRL181,000. Operating expenses rose 7.1% year-on-year to BRL52.5 million.