So all over all, we are in good place. And what we said, if you have a good network, a good coverage, good quality, and you are competitive, then good clients, good customers are going to end in your network. So that’s what it’s not only by — the other ones are also being very aggressive, AT&T, Telefonica, all the other MVNOs that are there. So Mexico has been very competitive for the last two, three years. And I think it’s going to still be very competitive for the next years in the mobile side. And in the broadband, well, in the broadband, we delay a little bit years ago the development of fiber, but we catch up. We are with a lot of fiber and we want to get back part of our market share. That’s what we’re going to do. So we’re being aggressive.
We have good infrastructure, a lot of fiber, a good service, very good service, and that is giving us less churn, as Oscar is saying, and let’s churn — and a very good offer that is packages, bundles and everything. So we are doing good. But also the broadband market is also very competitive. So, well, that’s, and I think not only in Mexico, you can see in all Latin America, there’s a lot of competition, a lot of competitors. And what we have been focused for the last five years to eight years is to put a very good network infrastructure. In the corporate side, we have been putting a lot of cloud data centers, applications, training people, and do all the jobs to sell and to do every year more and more things on the cloud for all the corporate mid and high corporate segments, small and medium businesses also for the big businesses.
But not only the big businesses, we have been doing a lot also in the small and medium businesses.
Alejandro Azar: Thank you. Thank you, Daniel. That was very clear. And one more, if I may. On the KPN convertible bond, did you have to spend money to cover the full position or was it enough with the shares that AMX had on their balance sheet?
Carlos Garcia Moreno: We basically delivered the shares we had in exchange for the bonds. That was it.
Daniel Hajj Aboumrad: People decided to take the shares and we delivered the — and [gave us the bonds] (ph).
Alejandro Azar: Thank you, Carlos.
Carlos Garcia Moreno: You’re Welcome.
Operator: [Operator Instructions] Your next question comes from the line of Gabriela Chaparro of BCP Securities. Your line is open. Please go ahead.
Gabriela Chaparro: Hi. Thank you for taking my question. Part of my question has been already answered, but I was wondering if you can give us more color on your plans in Chile for mobile, given the highly competitive market and following that one [Movil] (ph) file for Chapter 11. Thank you.
Daniel Hajj Aboumrad: Well, this is [one file] (ph) as you said for Chapter 11. We don’t know what they’re going to do, but we are investing in a much better network, quality 5G, and we hope we can compete and we can gain more market share there. Maybe the market will be consolidated in the future. We don’t know what’s going to happen with the one they filed for Chapter 11. I don’t know what’s going to be the future, but hope that the market can consolidate in Chile.
Gabriela Chaparro: Thank you very much.
Daniel Hajj Aboumrad: Thank you.
Operator: Our next question comes from the line of Soomit Datta of New Street. Your line is open. Please go ahead.
Soomit Datta: Hi, thanks very much for giving me the opportunity. A couple of questions please. One on Brazil on the fixed business. Just to check please, we saw a nice growth in the quarter. I don’t think you called out the PayTV component, but is it fair to say, we are now at the stage where the PayTV business is small enough that it’s no longer a headwind for the overall Brazilian fixed business and therefore should we expect to see growth on an ongoing basis coming through from broadband? Any colour around that would be helpful please. And then secondly on the corporate networks business that’s performed super well this quarter. I wonder kind of firstly what visibility do you have on the revenues for the corporate networks business and secondly what kind of implications does it have for the margin profile of the business.
I would perhaps imagine it’s a lower margin business than the [quarterly] (ph), but would be interesting as that business kind of scales and becomes more significant, how much of an impact will it have on margins? Thank you.
Daniel Hajj Aboumrad: Hi, Soomit. Well, I was mentioning it in the previous question that indeed, I think the headwind the [routine] (ph) in Brazil seem to, you know, they are being felt less and less. I think, you know, some years back, maybe five years back, the revenue from PayTV was twice as high as that from broadband. And the situation has changed. So now it is more or less the opposite. I think now the revenue from broadband is more than twice that of PayTV and the difference keeps on growing. So yes, I think that we feel confident that going forward this headwind from PayTV to the extent that it remains will not be determinant in us maintaining positive revenue growth. We expect that we will continue to grow in fixed.
And as we have mentioned in previous calls, being able to grow both on mobile and in fixed is very, very significant for margins. In Mexico and Brazil, we have moved from only growing mobile and not growing in fixed to growing on both fixed and mobile. I think that is a key element of the change that we have seen over the last few couple of years.
Soomit Datta: And the corporate?
