Telefonica Brasil SA ADR

VIV: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Vivo's Position in Brazil is Solid, but We'd Like to See Prices Rise Consistently

Michael Hodel

May 11, 2026

Business Strategy and Outlook

We believe Telefonica Brasil (Vivo) is one of the strongest telecom carriers in Brazil, vying with America Movil to offer converged wireless and broadband services across much of the country. Consolidation has made the wireless industry much more attractive, but the market still faces several challenges, including a fragmented fixed-line industry, coupled with economic and political instability.

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Telefonica Brasil SA ADR

Vivo's Position in Brazil is Solid, but We'd Like to See Prices Rise Consistently

Business Strategy and Outlook

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