Telefônica Brasil / Vivo (VIVT3): Desbloqueando valor na mudança regulatória para autorização

XP Research 26 de setembro de 2024 Telefônica Brasil / Vivo (VIVT3): Desbloqueando valor na mudança regulatória para autorização A Vivo chegou a um acordo para migrar sua concessão de voz fixa em SP para um regime de autorização.  A empresa deve investir R$ 4,5 bilhões em sua rede, mantendo os serviços de telefonia até 2028. Essa migração deve permitir o desligamento de sua rede legado, resultando em economia anual estimada de R$ 1 bilhão e potencial de venda de ativos de até R$ 6,5 bilhões. Além disso, a migração permitirá a eliminação de passivos relacionados à concessão (~R$ 1 bilhão). Analisamos dois cenários e destacamos a sinergia com o atual plano de investimentos da Vivo. Reiteramos nossa recomendação de COMPRA para VIVT3 com um TP YE24 de R$ 64/sh. Clique aqui para acessar o relatório completo TMT Reports: Brazil Telecom: Key Takeaways from the Discussion with Anatel (ENG | PORT) Brazil Telecom: 5G Insights | Improving Quality of National Mobile Networks (ENG / PORT) Brazil Telecom: Data Expert | Anatel Tracker July 2024 results (ENG / PORT) Locaweb (LWSA3): Navigating challenges and focusing on profitability | Model Update (ENG / PORT) Brazil TMT: Postcard from Rio - XP CEO Conference (ENG / PORT) Bernardo Guttmann Head de TMT bernardo.guttmann@xpi.com.br   Disclaimer 1) This report was prepared by XP Investimentos CCTVM S.A. ("XP Investimentos or XP") according to the requirements provided in CVM Resolution 20/2021 and aims to provide information that can help the investors make their own investment decisions, and does not constitute any kind of offer or purchase request and/or sale of any product. The information contained in this report is considered valid on the date of disclosure and has been obtained from public sources. 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