{"id":20563,"date":"2023-09-19T14:54:09","date_gmt":"2023-09-19T14:54:09","guid":{"rendered":"https:\/\/microloannexus.com\/investing\/telefonica-brasil-shares-rise-2-4-after-capital-reduction-approved\/"},"modified":"2023-09-19T14:54:09","modified_gmt":"2023-09-19T14:54:09","slug":"telefonica-brasil-shares-rise-2-4-after-capital-reduction-approved","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=20563","title":{"rendered":"Telefonica Brasil Shares Rise 2.4% After Capital Reduction Approved"},"content":{"rendered":"
\n

By Jeffrey T. Lewis<\/p>\n

S\u00c3O PAULO–Telefonica Brasil’s shares rose 2.4% after Brazil’s telecoms regulator approved a proposed capital reduction.<\/p>\n

Shares of Vivo, as the company is known, reached 44.31 reais, the equivalent of $9.14, and were up 13% from the end of last year through Friday’s close. Brazil’s benchmark Ibovespa stocks index was up 0.4% in midday trading.<\/p>\n

\n

The capital reduction of up to BRL5 billion, approved earlier this year by the company’s board of directors, is a great mechanism for Vivo to boost shareholder remuneration, analysts at BTG Pactual said in a research note.<\/p>\n

If shareholders approve the reduction, a creditor opposition period of 60 days begins, and after that the company can decide when and how payments to shareholders will be made, the analysts said.<\/p>\n\n

Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com<\/p>\n<\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By Jeffrey T. Lewis S\u00c3O PAULO–Telefonica Brasil’s shares rose 2.4% after Brazil’s telecoms regulator approved a proposed capital reduction. Shares of Vivo, as the company is known, reached 44.31 reais, the equivalent of $9.14, and were up 13% from the end of last year through Friday’s close. Brazil’s benchmark Ibovespa stocks index was up 0.4%<\/p>\n","protected":false},"author":1,"featured_media":9638,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-20563","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"\nTelefonica Brasil Shares Rise 2.4% After Capital Reduction Approved | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"By Jeffrey T. 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