Morgan Stanley : After a tough start to the year, the sector has had a good summer and is now +9%YTD. That said, after +2%Y growth in Q1, mobile service revenues have slowed in Q2 to 0%Y. This slowdown was mainly driven by the trend in the UK where the deceleration was more pronounced, with revenues declining from 5% in Q1 to 1% in Q2. In Germany, growth also decelerated…
Alphavalue/DIVACONS | Goldman Sachs has reduced its stake in Telefónica to 5.533%, down 2.5 percentage points from the 8.081% it previously held in the company chaired by José María Álvarez-Pallete, according to filings with the National Securities Market (CNMV). Telefónica: Buy, Target Price 6.23 euros/share.
Link Securities | The Ministry of the Interior has awarded Telefónica (TEF) two of the three lots of the public contract for the provision of telecommunications services for the Directorate General of Police for almost €138 million, according to the newspaper Expansión. Specifically, Telefónica has been awarded the lot relating to unified communications for the National Police for €112.49 million and the part of the contract relating to information and…
Link Securities) | Telefónica (TEF) and Vodafone have reached a strategic agreement with Meta (META-US) for the owner of Facebook, WhatsApp and Instagram to reduce its data consumption. Meta has implemented a new encoding in its videos that allows it to reduce its traffic by 20%.
Link Securities | British private equity fund Marshall Wace has increased its bearish bet on Telefónica (TEF) to 1.21% from 1.12%, according to Bolsamania.com. Never before has Marshall Wace had such a large bearish position. According to the National Securities Market Commission (CNMV), the bearish fund first took a short position of 0.5% in April 2024, but has been increasing in recent weeks. Marshall Wace’s entry coincides with the increase…
Bankinter | Telefónica is buying frequencies in the 3.5 GHz band , which is the standard for the bulk of 5G traffic, from Masorange. Both companies have submitted the formal request for the transfer to the Ministry of Digital Transformation. Opinion of Bankinter’s analysis team: The sale of frequencies by Masorange falls under the “remedies” or conditions imposed by the EC for the authorisation of the merger between Orange and…
Link | Telefónica presented its results for the first half of the year (1H2024) yesterday, of which we highlight the following aspects: TEF’s net revenues rose 1.1% year-on-year between January and June to €20,395m, driven by higher service revenues in 2Q2024.Operating cash flow (OIBDA) rose 2.5% year-on-year in 1H2024 to €6,424 million. In terms of revenue, the OIBDA margin increased in the first half of the year to 31.5%, from…
Norbolsa | The National Markets and Competition Commission (CNMC) frees Telefónica from having to notify the launch of new products or promotions before going to market, which will allow the company greater flexibility in its commercial fibre offer. This is because following the ORA-MAS merger and the operator’s shrinking market share in Spain is causing the CNMC to relax its requirements on the operator. The current methodology of the replicability…
Link Securities | The Spanish telecom, through its subsidiary Virgin Media O2, and Vodafone have reached an agreement in the UK to strengthen their mobile network sharing agreement for the next ten years, Expansión newspaper reported yesterday. The deal incorporates the purchase of assets from Vodafone to facilitate a merger with Hutchison subsidiary Three in the country. Perhaps the most novel aspect of the deal is that VMO2, in which…
Alphavalue / Divacons | Telefónica and Nokia have signed a three-year strategic agreement to accelerate the development and deployment of private 5G networks in Spanish companies, the operator led by José María Álvarez-Pallete said in a statement. According to Telefónica, the aim of this agreement is to help industry evolve to a 4.0 model and accelerate the digital transformation of companies “in a simple and agile way”. This alliance for…