Telefónica

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Telefónica to create new company to unbundle UK landline network, 100% controlled by Virgin Media O2

Renta 4| Telefónica and its UK partner Virgin Media have announced the creation of a subsidiary that aims to spin off fixed line assets and accelerate the rollout of broadband in the UK. Virgin Media O2 (VMO2) has a deployment of 16.7 million Real Estate Units and aims to reach 23 million by 2026. The new company (netco) would be 100% controlled by Virgin Media O2, although this new structure…


Telefónica

Telefónica wins lawsuit against Millicom for cancelling purchase of Costa Rican subsidiary

A New York court has ruled in favour of Telefónica in its lawsuit against Millicom International Cellular for refusing in 2020 to honour the agreement to buy the telecommunications company’s subsidiary in Costa Rica for $70 million (around €530 million at current exchange rates). Although the ruling does not specify the amount to be paid in compensation by the telephone operator, which refused to make the purchase despite having agreed…


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Telefónica Tech teams up with China’s Ehang to boost urban air mobility in Europe and LatAm

Alphavalue / Divacons| Telefónica Tech has teamed up with Chinese company EHang, which produces electric aerial vehicles with vertical take-off and landing capabilities for transporting passengers and cargo without a pilot, to boost urban air mobility in Europe and Latin America, the operator said in a statement. Telefónica Tech will contribute its 5G connectivity and private network capabilities to the project to enhance the “safety and efficiency” of this type…


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Competition Commission proposes to deregulate wholesale market and eliminate Telefónica’s obligation to cede fixed network to third parties

Bankinter| The National Markets and Competition Commission (CNMC) is opening a public consultation for one month to deregulate the wholesale fixed telephony market. It proposes that Telefónica be freed from the obligation, as the dominant operator, of having to provide fixed lines to any customer who demands them, regardless of the operator. It justifies this by the current low demand for fixed lines compared to a majority of fixed telephony…


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Telefónica’s final direct cost savings with layoff programme represent close on 48% of €600m of those announced in November 2023 plan

Banc Sabadell | Telefónica (TEF) has communicated this week the agreement for the execution of the planned redundancy proceedings for its subsidiaries in Spain, which will finally affect 3,421 employees (~16% of the employees in Spain, ~3% of the Group), in line with what was already known. In the statement, Telefónica indicates that the present value of the costs associated with the plan has resulted in a provision of close…


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Telefónica closes redundancy proceedings affecting 3,421 employees

Link Securities | Telefónica’s most representative trade union organisations have reached an agreement to sign the Third Collective Bargaining Agreement for Related Companies, valid until 31 December 2026 and extendable for a further year, with the aim of moving towards a more digital, flexible company that is prepared for future challenges in a highly competitive context of profound transformation. This agreement will allow Telefónica, among other things, to continue its…


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Agreement between Telefónica and unions to reduce workforce by 3,421

The agreement that has been reached between Telefónica and the unions was made possible by reducing the number of people affected by the ERE (redundancy proceedings) and improving the conditions. The ERE will finally be aimed at 3,421 people, 2/3 of the initial total, 2,958 workers from Telefónica España, 397 from Telefónica móviles and 66 from Telefónica Soluciones. The workers will receive between 52% and 68% of their salary until…


Telefonica novisima

Telefónica joins long list of state-controlled companies: at 10% it is low down in the range

Morgan Stanley| On Tuesday, the Spanish government decided to order state-owned SEPI to buy up to 10% of Telefónica (TEF), ending a 26-year period of no government control of Telefónica since its privatisation in 1997. However, Nawar Cristin points out that, after this purchase, Telefónica joins a long list of state-controlled companies and that 10% is at the lower end of the range. Moreover, the announcement has not come as…


Telefónica

Government orders Sepi to buy 10% of Telefónica to become main shareholder

The State Industrial Ownership Corporation (Sepi), the public body controlled by the Government through the Ministry of Finance, will take up to 10% of the capital of Telefónica (TEF), which will make it the largest shareholder of the telecommunications operator, ahead of Caixa, BBVA and Saudi Arabia’s STC. The Sepi informed the CNMV on Tuesday in a note in which it stated that “the Council of Ministers in its meeting…


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Telefónica Deutschland recommends acceptance of Telefónica’s voluntary takeover bid for 28.19% of its share capital

Link Securities| In connection with the publication of the relevant offer document relating to the voluntary partial takeover bid launched by Telefónica – through Telefónica Local Services GmbH – for shares of Telefónica Deutschland Holding AG, the company informs that the Management Board and Supervisory Board of Telefónica Deutschland have issued the relevant joint report on the Offer. According to the report, the Management Board and the Supervisory Board of…