Telebras shareholders approve capital increase and statutory reform

Shareholders of Brazilian state-owned telecommunications infrastructure provider Telebras approved the the proposed capital increase and statutory reform at the company. The capital increase comes from contributions from the federal government to execute the SGDC, PNBL and submarine cable projects. As a result, the company's equity went up from BRL 263.14 million to BRL 1.59 billion. The approved statutory reform helps raise internal standards and improve modern governance practices.