Client Call with Vivo (Telefonica Brasil) IR Director Joao Pedro Carneiro Senior IR Manager Gabriel Figueiredo Menezes

We will be hosting a virtual meeting for NSR clients with Vivo's IR Director, Joao Pedro Carneiro and Senior IR Manager, Gabriel Figueiredo Menezes, on the 8th December. Format will be conducted in a small group setting, with the focus on Q&A.

When? 8th December, Monday, 10am ET / 3pm UK / 12PM Brasilia

Why? Mobile consolidation in Brazil is leading to improved returns and better growth. Vivo is well exposed to this. With solid growth, margins rising and declining capex intensity, cash flow is growing strongly we think. This call will be a great opportunity to dive into the latest developments in the market, scope for improved cash generation and returns to shareholders. We will also discuss macro, competition as well as M&A opportunities in the fixed segment, B2B, FWA and Digital services. On the Digital services front, we have done some work recently and Vivo is also well exposed to this theme (the most exposed in the Brazilian space we think). Vivo is also one of our key Top Picks.​​​​​