(Image: Reuters/Nacho Doce)
Telefônica Brasil (VIVT3), owner of the Aliveinformed the market that approved the incorporation of IoT Telephone, Big Data and Technology of Brazil SA. (TLF IoT) by Telefônica Cloud and Technology of Brazil SA (T.Cloud Brazil).
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Both companies are controlled by Telefonica, and the operation was approved at assemblies held on Monday (1).
According to a relevant fact, the goal is to simplify the group structure and reduce costs, promoting more administrative and operational efficiency.
Even after the incorporation, Telefônica Brasil follows 50.01% of participation in the capital of T.cloud Brazil.
With the operation, T.Cloud Brazil succeeds TLF IoT in all its assets, liabilities, rights and obligations.
Source: Moneytimes
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