Oscar Von Hauske: Well, we are looking at our leverage ratio. We want to keep it at not less than 1.2 and not more than 1.5. I think that would be the open range that we will be looking at. And that overly is an answer to your question in terms of the return on capital, Walter. I think it’s — so there is — we will not allow it to go below 1.2. That’s the idea and that’s consistent with what we outlined in our Investor Day year and a half ago.
Walter Piecyk: Yeah. Thank you very much.
Daniel Hajj: Okay. Thank you.
Operator: Thank you. The next question goes to Fred Mendes of Bank of America. Fred, please go ahead. Your line is open.
Fred Mendes: Hello. Good morning, everyone. I have two questions as well. The first one is with Telmex. Once again, very strong net adds for Telmex. So just wondering if that’s coming mainly from gross adds. Are you basically reducing your churn, right? Basically, what we’re trying to understand is if you’re gaining clients from the competition or let’s say you stopped bleeding in terms now that you have more fiber in your network. That would be the first question. And then the second question is more like a reconciliation. When I look at your results in Brazil for the mobile business, the ARPU increased by 6.5%, net adds on postpaid by 1%, prepaid you had some net losses, but the mobile service revenue was like 12% organically. So just wondering if I missed something here or maybe a mix here. Just trying to reconciliate here. Thank you very much.
Oscar Von Hauske: Well let me tell you as we mentioned before, we’ve been doing very aggressive investment in fiber. Now 73% of the customer base is already connected with fiber. As well as we mentioned we’ve been working on the commercial activity. We improved the installation processes as well. And we have a better retention of the customers. So we released the churn a little bit. So all of them impacting this net gain that we have been having. And we launched a new proposition in the market that we believe that is very unique in the market and very adequate to the market. Recently, two weeks ago, we launched 300 megabit symmetrical including Claro Video and Paramount with a very good price. We believe that it’s going to be taken in the market very helpfully. So that’s it.
Daniel Hajj: I think we’re very happy the way Telmex is developing. And what Oscar is saying exactly, it’s not only churn or not only — it’s everything. It’s less churn because we have a lot more fiber and people — where consumers are —
Oscar Von Hauske: Better installation speeds.
Daniel Hajj: Better installation speeds, less churn and good promotions.
Oscar Von Hauske: And new products, right.
Daniel Hajj: Yes. So we’re —
Carlos Garcia Moreno: And on the slowdown of the mobile revenue growth in Brazil, it basically has to do with the normalization of revenue growth a year after we had factored in the first revenue from Oi mobile clients. And that means that the uplift that we were getting from the Oi clients has come down from over 6% a year ago to a bit less than 1% today. I think that’s basically what explains the slowdown, okay. So it would be a change in the base that’s just for the reference for the comparisons. The other thing in terms of the ARPU growth in Brazil in spite of this is partly to do with disconnections of Oi mobile clients that took effect towards the end of the prior quarter and that’s basically what is helping the ARPU numbers in Brazil.
Fred Mendes: Perfect. Thank you. Thanks, Daniel, Carlos, Oscar. If I just may, just a follow-up here. It’s 73% of the clients or 73% of the homes passed already the fiber in Mexico for Telmex?
Oscar Von Hauske: 73% of the clients.
Fred Mendes: Perfect. Perfect. Thank you very much, Oscar.
