...Strong Market Position: Telefonica Moviles Chile S.A. (TMCH) boasts the largest subscriber market share in the Chilean mobile industry with a 38% share as of March 2015. The company is well positioned in the 3G/4G mobile Internet segment, which has a high growth potential with around 38% market share. The competitive landscape will remain intense as other operators aggressively compete for high-end data users. Nevertheless, TMCH's market position should remain intact backed by its solid network infrastructure and service quality, and strong brand. Resumed Revenue Growth: Strong growth in mobile Internet should fully mitigate contraction in the voice revenues. TMCH's mobile Internet subscriber base grew 10% during first-half 2015 (1H15) compared to 1H14, enabling the mobile Internet revenues proportion out of the total sales to improve to 26% from just 11% in 2012. The company also managed to improve its revenues by 2% during 1H15 compared with a year ago, while its EBITDA margin improved...
