(VIV - Get Report)
is one of the largest telecommunication providers, with more than 264 million users in more than 25 countries. It provides fixed-line telecommunications services, international and interregional long-distance services, and multimedia communication services.
Of the 11 analysts covering the stock, 82% recommend a buy and 18% rate a hold. Analysts' average 12-month price target of $33.76 for the stock is 31.1% higher than the current price, according to a
For the third quarter of 2011, the company reported net service revenue at $8.03 billion, growing 5.6% from $7.60 billion in the same period the previous year. Net income increased 6.4% to $1.33 billion, vs. $1.25 billion in the equivalent quarter the prior year.
During the quarter, the company saw record growth of 72.1% in net additions in the mobile segment, to 3 million, from the prior year's same quarter, and a growth of 50.4% from the second quarter. Mobile broadband accesses grew 44.8%, while fixed broadband accesses were up 13.2% from the year-earlier quarter.
In November, VIV's board approved a repurchase of up to 2,912,734 ordinary shares. On Dec. 12, the company approved its own capital interest of $330 million total gross, a net value of 23 cents per ordinary and 25 cents per preferred share, payable by the end of 2012. The record date is Dec. 29, 2011 and the shares will be traded ex-interest as of Jan. 2, 2012.
and Telefonica have teamed up to offer mobile financial solutions for 65 million Vivo phone subscribers in Brazil. Telefonica Brazil -- backed by Spain's Telefonica -- and America Movil's local unit Telecom Americas (Claro) are expected to submit bids for 2500MHz spectrum to offer 4G services in the auctions for three separate wireless spectrums next year.