Spanish carrier Telef├│nica said it will restructure the company so it could focus more on business in Latin America.

 

It said the region constitutes the fastest growing business of the telecom, especially following its purchase of Brazilian carrier Vivo. 

 

Telefonica┬┤s president Cesar Alierta said instead of focusing on separate countries, the company would now broaden its departments to look instead at broader regions, all reporting to its head of Latin America business Jos├® Mar├¡a ├ülvarez-Pallete.

 

The first of these areas will consist only of Brazil, a country of great importance to the operator. This team will be led by Luis Miguel Gilp├®rez. 

 

The second group will include Chile, Colombia, Argentina, Uruguay, Peru and Ecuador, which will be run by Eduardo Caride, former president of the subsidiary in Argentina. 

 

Jamie Smith will head the Mexico, Central America and Venezuela region.

 

Telefonica┬┤s revenue from Latin America in the first half of 2010 was up to Ôé¼ 12bn, representing the biggest growing region for the carrier, with 10,2% increase compare with the same period in 2009.