Telefonica Brasil’s Memorandum of Understanding With CDF

Bronstein, Zilberberg, Chueiri e Potenza Advogados advised Telefonica on the deal.

Telefônica Brasil S.A. (“Company” or “Vivo”) (B3: VIVT3 / NYSE: VIV) signed a binding memorandum of understanding with CDF Assist and Digital Support S.A. (“CDF”), for the formalization of a partnership with a focus on intensifying the relationship existing trade between companies.

Through the partnership with CDF, a company that is a marketplace of assistance solutions residential and technological, Vivo seeks to be a reference, in the Brazilian market, in the offer of Technological support services for the connected home, expanding the service portfolio existing that starts to include from the technical support services, to other areas such as Wi-Fi and physical network configuration and installation and configuration of smart devices, which will have strong growth due to the expected evolution of the internet of things (IoT).

Under the partnership, Vivo will hold the right to acquire a minority stake in the capital of the CDF, depending on the achievement of certain goals.
This initiative reinforces Vivo’s positioning as a hub of digital services, serving the all the technology needs of its customers, in addition to increasing the participation of the Company in high value businesses.

The transaction is subject to the negotiation and signing of definitive documents within the period of 120 (one hundred and twenty) days from the present date, as well as the prior approval of the Brazilian antitrust authority.

The Company will keep its shareholders and the market in general duly informed about the evolution of this partnership, in accordance with the regulations in force.

Bronstein, Zilberberg, Chueiri e Potenza Advogados advised Telefonica with Pedro Chueiri, partner (Picture) and Marilia Torres, associate.

Involved fees earner: Pedro Chueiri – Bronstein, Zilberberg, Chueiri & Potenza Advogados; Marilia Torres – Bronstein, Zilberberg, Chueiri & Potenza Advogados;

Law Firms: Bronstein, Zilberberg, Chueiri & Potenza Advogados;

Clients: Telefônica Brasil S.A.;