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SAO PAULO, Dec 27 (Reuters) - Telefonica Brasil SA and former senior executive Cristina Duclos have agreed to settle a dispute over her dismissal, saying there were no irregular contracting practices at the division she used to head.
In a Tuesday statement published in Brazilian newspaper Valor Econômico, Telefonica Brasil said the reports about excessive price discrepancies in the marketing division were based on "false information". Duclos left the company due to restructuring, the statement said.
A press representative for Duclos said the executive plans to resume her career as soon as possible. The departure of Duclos was amicable, with due compensation, the statement said.
On July 25, Valor Econômico newspaper reported the company was conducting an internal probe led by an independent auditing firm to scrutinize 1.3 billion reais ($397 million) the company spends annually in advertisement.
Reuters reported on Sept. 28 Duclos sued Brazils No. 1 wireless carrier saying the company planted news about irregularities. At the time, she was seeking reinstatement at Telefonica Brasil.
$1 = 3.2765 reais Reporting by Guillermo Parra-Bernal; Writing by Tatiana Bautzer; Editing by Nick Zieminski