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Goldman Sachs

June 6, 2026

Brazil Telecom Services

Monthly UpdateEquitiesCommunication Services

The report analyzes April 2026 Brazilian telecom data, noting resilience in mobile postpaid segments despite prepaid attrition and weakness in fixed broadband. Market share shifts are highlighted among Vivo, Claro, and TIM.

Key Takeaways

  • 1.Brazilian mobile accesses reached 274.5 million in April 2026, with postpaid net adds offsetting prepaid base losses.
  • 2.The fixed broadband sector posted net adds of -139k MoM, driven by weakness in regional ISPs and Oi.

Table of Contents

  • Mobile
  • Fixed Broadband
  • Operators Performance
  • Valuation and Risks
  • Telefonica Brasil
  • America Movil
  • Tim Brasil
  • Disclosure Appendix

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