Telefónica cashes in with GVT pay-TV in Brazil
DetailsJuan Fernandez Gonzalez | 24 July 2015
With the integration of GVT into Telefonica Brasil complete, no traces of the former No 5 pay-TV player remain, but the resulting company's figures have shown growth in every business area, especially pay-TV.
For the first time since the acquisition process ended and the rebranding concluded, Telefonica has announced its figures, showing a 4.47% general growth during Q1 2015 and almost reaching $5 billion in operations.
Pay-TV income grew by 31.62% to $1.3 billion, as the merged company is now the country's third largest player with 1.8 million subscribers, following Telmex Claro with 10.2 million subs and SKY DIRECTV (5.7 million).
The new Telefonica Brasil also has 14.9 million fixed phone accesses, and almost seven million broadband connections, of which 3.4 million are through fibre-to-the-home (FTTH).
After several authorisation processes, Telefonica received the final go-ahead in March, completing the acquisition of GVT from Vivendi by paying €4.66 billion in cash plus a 12% share of Telefónica's Brazilian unit.