Operator: Our next question comes from Felipe Cheng from Santander. Please, Mr. Cheng, your microphones open.
Felipe Cheng: Hi, Christian, David and Joao. Thank you very much for taking my questions. So two on my side. The first one regarding if you guys could provide a little bit more details on the opportunity for additional growth in B2B digital services. This is definitely one of the revenue lines, which has been growing at a faster pace and quality, a lot of attention. So if you could provide a little bit more detail where the future opportunities are, how big the addressable market is, and if you continue to see room to grow at this high double digit pace that you have been growing in the past few quarters. And the second question regarding M&A, if you can talk a little bit about potential M&A opportunities in the short term, where would they be concentrated in which segments so any color on that would be great? Thank you so much.
Christian Gebara: Let’s go to M&A you refer to fiber M&A?
Felipe Cheng: Fiber or digital services where do you see more opportunities for M&A?
Christian Gebara: So there are different ways of seeing M&A, and also like in the B2C digital services, what we are doing is basically investing through our corporate venture capital fund. That is a wave of venture now that I said that we made two investments in FinTech. And there we have BRL320 million to do to spend, then we envision investing in 12 companies along the years now, that’s going to be a minority stake is not an acquisition. We’re also looking for potential acquisitions in the same areas that we are considering for the venture, our corporate venture capital. So we were talking about B2C. We are talking about how fintech, education, energy and some new areas that we are now researching and to see how do we could leverage again, knowing the attributes that we believe are unique in Vivo, that is the superior brand, the customer base, the billing capability, the channel capillarity online and offline, and other attributes that we normally discuss.
So we are very open and we are talking to different companies. And we’re going to be bringing a news, I think along the quarters in the B2B is the same. We acquired a company called Vita IT last year. It’s a network integrator, one of the key partners of Cisco in Brazil. It’s been a very smooth integration and we are very positive about the returns that we’re going to capture with this acquisition. The same way, Telefonica is acquiring companies globally. Telefonica tech is the initiative that Telefonica has for B2B digital services. They are creating independent business for that it focuses in the product development and product partnership is not in the sales, the sales is done by the operator in our case, but we have just three companies in Brazil, one focus in cyber, another one focus in clouds, and the third one focus in big data and IoT.
So these three companies, we have established the same three companies that Telefonica has in Spain, here in Brazil, and we are working very closely to them. So going forward, when you talk about B2B digital service that we said, there 2.7 billion and there is a growth of 29%, we continue to see a very, very optimistic growth for the next quarters, especially because we are the only one with the channel capillarity among not only our sector, but all sectors, even the big players of this industry, they need our capillarity. And here are just I’m not talking just about the large companies of the country. The possibility that we foresee here as the growth is because we reach even the small companies of the country. So with this capability, and we’ve all the companies now searching for digitalize in their operation, and that I think was accelerated by the pandemic.
