Telefonica Brasil Cancels Treasury Shares to Optimize Capital Structure

The latest update is out from Telefonica Brasil ( (VIV) ).

Telefonica Brasil has announced the cancellation of 21,944,664 common shares, accounting for 1.33% of its capital stock, which were previously held in treasury under its Share Buyback Program. This decision, approved by the Board of Directors, aligns with the company’s strategic financial management, potentially impacting shareholder value and market perception positively.

More about Telefonica Brasil

Telefonica Brasil S.A., operating under the name Vivo, is a leading telecommunications company in Brazil. It provides a wide range of services including mobile voice, fixed voice, and broadband services, focusing on enhancing connectivity and digital experiences for its customers across the country.

YTD Price Performance: -25.24%

Average Trading Volume: 817,586

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $13.11B

For detailed information about VIV stock, go to TipRanks’ Stock Analysis page.