Telefónica España workers have almost unanimously rejected the proposal to voluntarily opt for a four-day working week, which entailed a corresponding pay cut, although the company compensated with a 20% bonus. With just four days left before the deadline to join the plan, barely 1% of the workforce has signed up, according to EL PAÍS today, citing sources in the negotiations. The main reason for this lack of interest on…
Renta 4 | There are various finalists for participating in the capital of Telefónica’s rural fibre optic network (FET) in Spain, according to several media outlets. Allianz, CDPQ (Quebec pension fund), PGGM (Dutch pension fund) and Vauban Infraestructure Partners (Natixis Group) would be the finalists to buy 45% of the rural fibre network in Spain. However, there could be some other incorporation or exit. Allianz y CDPQ could team up as a consortium. Final, binding proposals…
Bankinter | Telefónica (TEF)’s first quarter 2022 results beat forecasts and the group has maintained its guidelines for the year. In organic terms, revenues (+3.2%) and OIBDA (+2.1%) continue to show positive growth for the fourth consecutive quarter. Spain remains the market with the most competitive pressure, leading to a drop in OIBDA. However this is offset by greater strength in the rest of the group’s key markets. The OIBDA…
The group’s turnover amounted to 10.883 billion euros, an increase of 3.2%. By markets, Spain accounted for 28% of revenues, Hispam 20%, Brazil 18%, Germany 18% and the UK 14%. Operating income before depreciation and amortisation (Oibda) rose 2.1% to 3.753 billion euros, due particularly to Latin America, whose Oibda jumped 50%. Sales grew in all markets, such as Germany, the UK and Spain, and double-digit growth in Brazil and…
BancaMarch | Telefónica (TEF) Tech, the information technology and digital transformation affiliate of the Spanish telecoms operator has announced the purchase of BE-Terna. The latter is a multinational firm offering services in the cloud and specialising in digital transformation. The acquisition, one of the biggest deals made by Telefónica Tech, will be closed for some 375 million euros (approx 1,4% of Telefónica’s stock market capital). The purchase will strengthen its…
Norbolsa | Telefonica closed an agreement with Deutsche Telekom and Vodafone to share their networks and provide their customers with the same coverage in 2,000 additional German locations. Through this alliance, the German mobile network operators are implementing new initiatives to share infrastructure and improve mobile coverage in rural areas. In the same vein, the three operators also agreed in 2021 to provide coverage in those areas that did not…
Link Securities | Telefónica today presented its results for the 2021 financial year, as outlined below: The company’s January-December 2021 results have achieved the upwardly revised annual financial targets in Q2’2021. o Revenue and OIBDA; “stable or slight growth (year-on-year organic)”. Revenues +2.0% and OIBDA +1.4% in 2021. o Return to normalized level of CapEx to sales ratio ex-spectrum of up to 15%. CapEx to sales to reach 14.2% in…
Telefónica has presented the unions with a final offer for the Incentive Dismissal Plan (PSI) that provides for a maximum of 2,982 departures from the 4,532 workers entitled to join on the basis of age and seniority. This is nearly a hundred more than the proposal put forward at the previous meeting. The income offer remains the same as for the last proposals: 68% of the regulatory salary for those…
Bankinter | The Spanish government extends its veto power against possible takeover bids by one year, until December 2022. So in Telefónica (TEF), as a company considered strategic, the government will have to authorise purchases by EU investors of more than 10% of the capital. The ability to veto investments from outside the EU also remains in force indefinitely. These restrictions were imposed in April 2020 to prevent Spanish companies…
Telefónica has reported a record profit of 9.335 billion euros in the year to September – in the third quarter, on a like-for-like basis, profit was 706 million. The 9-months’ figures include the extraordinary results from the divestment of Telxius (around 3.5 billion euros) and the joint venture with Virgin Media in the UK (another 3 billion). These operations have also enabled the company to cut its debt by 31%…