Telefonica Brasil, S.A. (NYSE:VIV)
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Provides interconnection services to cellular service providers and other fixed telecommunications companies. Sells handsets and other telephone equipment through A.Telecom S.A., the Company's wholly owned subsidiary.
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Although lagging somewhat compared to other Latin American utilities, this company maintains a near monopoly in many regions in which it operates. With the continued economic growth in Latin America and notably Brazil, this one should provide a respectable return for investors.