Q1 revenues grew by 3.4% yoy organically and at constant change while the adjusted EBITDA increased by 5.5%. These results are quite similar to those in H2 2015 and were expected. But this quarter, in addition to the Brazilian real which has continued to fall vs the euro, the Argentine peso has affected the global revenues of Telefonica by 2.2% (the currency sank by 40% after the country lifted its currency controls at the end of 2015). The South American revenues, which grew organically in c ....