Vivo Participacoes SA, Brazil's largest wireless mobile carrier, announced that its profits rose by 38%, to 123.5 million reais ($59 million) from 89.6 million reais a year earlier.
The drastic increase is brought about by the expansion of Vivo's user base by 33 percent, or 11 million clients, after it acquired Telemig Celular Participacoes SA last year and buying government licenses to operate in the country's northeast region.
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