Telefónica España and trade unions, UGT and CCOO, signed an agreement on Tuesday to extend their Collective Bargaining Agreement, which was due to end this year, until 31 December 2022. The extension includes a 1% wage increase and a bonus of 300 euros to be received in October 2022. The agreement will also serve to consolidate Telefónica España’s new ways of working, with two voluntary teleworking days a week for…
In 2011, Telefónica’s liabilities exceeded 56 billion euros. Today, however, after the latest operations (the merger agreement for its business in the United Kingdom, the sale of towers to American Tower…) it has cut its leverage by a further 8.4 billion euros and reduced it to less than half, at 26 billion. Although this amount is starting to become more manageable for the group, the most critical operators point out…
Telefonica presented today its results for the first quarter of the year: revenues fell by -9% to 10.34 billion, as did EBITDA, which fell to 3.417 billion (-9.1%), which did not prevent it from doubling net profit, which rose 116% to 886 million (FacSet analysts’ consensus expected 500 million in profit), representing a margin of 8.6% vs. the 3.6% margin in the first quarter of last year.
T.C. | The Competition and Markets Authority (CMA), the UK’s competition regulator, has provisionally cleared the merger of O2, Telefónica’s UK mobile subsidiary, and Virgin, the cable group controlled by US-based Liberty Global, into a company – 50% owned by the two partners – valued by the market at around 45 billion euros (more than £38 billion) and which will become, along with BT, the UK market leader. If BT has 46.3 million customers, the new company will have 46.5 million (32.6 million mobile, 5.3 million fixed broadband, 4.9 million fixed voice and 3.7 million pay TV).
The company acknowledges that it is in the process of negotiating with Liberty Global for a possible integration of its assets in the UK, but there is no guarantee this will be successful or that the final terms will be met. Liberty Global offers pay television, broadband and telephony services in the UK through the Virgin Media brand. In addition, it has a mobile virtual operator or MVNO based on British Telecom’s network that expires at the end of 2021 (which would have already negotiated a switch to Vodafone).
Microsoft and Telefónica have agreed to expand their global strategic collaboration to accelerate their customers’ digital transformation. As part of this collaboration, the US company will open a Data Centre in Spain that will take advantage of Telefónica’s infrastructure, which in turn will accelerate the use of Microsoft’s cloud internally.
Banc Sabadell | America Movil would be open to explore options to buy Telefonica’s (TEF) assets in Latin America, according to statements from its CEO and CFO that have appeared in the press. It is worth mentioning that it was already leaked that Telefonica had hired several investment banks to try to accelerate the sale of its subsidiary HispAm to before June 2020. The idea would be to sell a…
Alphavalue | A third of Spanish telco Telefonica’s board has bought shares since the fall of August. The investment is around € 26 million, led by Francisco Riberas. Pallete, Echenique, García Blanco, Vilá and Carvajal have also acquired titles.
Telefónica’s decision to reduce its reliance on Huawei is in line with the company’s strategy to have several different providers for the equipment for its 5G networks, which is expected to be widely deployed by 2022.
Renta 4 | We made a change in the Portfolio letting Telefónica (TEF) go, and MásMóvil (MAS) in, since the second has a much higher revaluation potential supported by its greater growth, double digit in revenue and expanding its operating margins, estimating that it will continue to be the operator with the highest share in the coming years.