“The option to sell the network and not give up Brazil shows its validity today. When many suggested otherwise, our subsidiary was worth 12 reais per share on the stock market; today it is worth 24 reais. This figure alone confirms the solidity of the strategy adopted”, said Telecom Italia CEO Pietro Labriola during Brazil’s National Day celebrations at the Palazzo Pamphilj in Rome. Labriola recalls how the decision, discussed at the time, actually strengthened the group’s structure: “The Brazil team is currently the entity that generates the most money between our activities in Italy and Brazil. It is an asset with still significant growth potential and is an industrial pillar that provides value for the entire group.”
Commenting on the outlook for the Brazilian market, the CEO highlighted how the country represents “the region with the greatest economic-financial growth” for the Team. If previously growth in Italy was stagnant, explained Labriola, “now we have returned to growth in the domestic market too, but Brazil remains the starting point for understanding future developments and dynamics.” The main reference is to 5G: “The Brazilian government, five years ago, made a far-sighted choice: the chicken of the future, not the egg today. This has led Brazil to become the second country in the world to have 5G coverage. In practice, this means paving the way for greater digitalization and new services that we do not have in Italy and Europe.”
