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Telefonica (BME:TEF) Brasil (NYSE:VIV) S.A. (B3:VIVT3; NYSE:VIV) announced Thursday that its board of directors approved the cancellation of 34,740,770 common, book-entry, non-par value shares held in treasury. The canceled shares represent 1.07% of the company’s capital stock and were previously acquired through the company’s share buyback program. The cancellation does not reduce the company’s capital value.
Following the cancellation, Telefonica Brasil’s capital stock now consists of 3,226,546,622 common shares. The company stated that a shareholders’ general meeting will be convened at a later date to amend Article 5 of the company’s bylaws to reflect the new total number of shares.
The company also clarified that, due to a reverse stock split followed by a forward stock split of its shares effective April 15, 2025, the maximum number of shares that may be acquired under the current share buyback program, which was approved on February 25, 2025, has been automatically adjusted.
This information is based on a press release statement from Telefonica Brasil S.A. filed with the Securities and Exchange Commission.
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