Davis Polk advised Telefônica Brasil S.A. in connection with an SEC-registered offering of 243,086,248 preferred shares, including preferred shares in the form of American Depositary Shares. The total proceeds of the offering were approximately US$5.5 billion. The preferred shares are traded on the São Paulo Stock Exchange and the American Depositary Shares are traded on the New York Stock Exchange.

Headquartered in São Paulo, Brazil, Telefônica Brasil is the leading mobile telecommunications company in Brazil, as well as the leading fixed telecommunications company in the state of São Paulo.

The Davis Polk corporate team included partners Andrés V. Gil and Maurice Blanco and associates Meghan Maloney and Debora A. Ayoub. Partner Mary Conway and associate Catherine L. Chu provided tax advice. Associate Jake H. Wang provided 1940 Act advice. Members of the Davis Polk team are based in the New York and São Paulo offices.    

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