All Ángel Vilá articles
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M&APrisa sale calls time on Telefónica political ambitions
Álvarez‑Pallete declares the telco “should not be in the business of opinion‑making” after offloading the bulk of its 9% stake in Spanish media group Prisa.
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M&A
Telefónica receives bids for minority stake in Spanish rural FibreCo
Spanish media suggests either 45% or 49% is up for grabs.
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Financial & Performance
Q1 FY22: Telefónica facing challenges with a spring in its step
Strong start to FY22 saw cross‑examination on prospect of a quick upgrade on guidance for the year. VM O2 the odd one out as three of Telefónica’s core markets show strengthening operational performance and clear vision for market evolution. Telefónica Tech building momentum, but strategy of buying short‑term growth ...
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Strategy & Change
Telefónica offers redundancy plan to almost 3,000 staff
Unions still not satisfied with latest redundancy offer. Group offers a higher pay increase of 1.5% for 2023.
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Content & TV
Movistar, DAZN secure five-year La Liga deals
La Liga generates €4.95bn in revenue from new round of concessions. Movistar’s controversial agreement on hold ahead of talks between Telefónica and regulator CNMC.
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Strategy & Change
Spain’s ‘big three’ agitate for consolidation
Top execs at Orange, Telefónica, and Vodafone indicate ‘enough is enough’ in Spain’s hyper‑competitive market. Telefónica Group COO says Spanish incumbent can play “facilitator role” for consolidation in a market that is “not sustainable”. Vodafone CEO’s patience running out on low returns from southern Europe; looking to “actively engage” ...
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Network & Infrastructure
Citi said to be charged with Telefónica Spanish infra sale
Rumours continue to circulate around Telefónica’s fibre monetisation plans in Spain. Investment bank understood to have valued Spanish fibre infrastructure at €14bn. Sale speculation comes despite Telefónica classing its Spanish fibre infrastructure as a “strategic asset”. Report suggests Group is seeking resources to finance investments in 5G and digitisation. ...
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Strategy & Change
Evans elevated to lead Telefónica’s digital strategy
Former O2 UK CEO takes a step up the Group management ladder after missing out on role as head of merged UK JV. Potential for pivotal digital double act with Chema Alonso bringing innovation expertise to be harnessed by Evans’ commercial nous. Navarro remains as key adviser to Chairman, ...
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Financial & Performance
Mystery of Telefónica’s vanishing digital revenue as Tech takes off
Hard‑fought progress at the start to the year looks set to provide a base to hit guidance, with management seeming open to improving outlook as the year progresses. Group keeping its options open on monetising Hispanoamérica interests and its fibre infrastructure in Europe. Telefónica Tech is open ...
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Network & Infrastructure
Vivo taps CDPQ for fibre spin out, as KKR invests in Chile
Telefónica|Vivo signs a 50:50 deal with Quebec‑based investor to launch FiBrasil. Wholesale fibre provider will expand Vivo’s geographic reach, while the OB focuses on upgrading its existing fixed‑network footprint. Long‑heralded $1bn Chilean InfraCo plans culminate with KKR taking 60% stake.
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Strategy & Change
Could Telefónica exit Uruguay next?
Telecom Argentina reportedly mulling play for the Group’s local unit. Telefónica executives stress they remain open to all options to reduce its exposure in the Hispanoamérica region . Group continuing to experience frustrations in snakes-and-ladder-esque regional divestment programme.
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M&A
Cellnex open to Telxius grab
TowerCo CEO cheerfully talks up prospect of acquiring stake in Group’s infrastructure business. Idea of Telefónica-Cellnex tie mooted previously — and never totally quashed. Telefónica’s weakening debt profile may prompt inorganic action around infrastructure.
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M&A
Telxius prepares subsea business for sale — report
Telefónica TowerCo Telxius reportedly poking investors to see who bites. €2bn valuation for 100,000km‑long submarine cable arm. Telxius’s terrestrial portion has seen continued growth, potentially readying for a pivot.
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Network & Infrastructure
Telefónica links with Allianz on FTTP infrastructure
50:50 wholesale JV targets rural and semi‑rural areas with fibre rollout. Majority of $5bn investment to be raised by bank loans. “Non‑consolidated structure” reduces Group exposure.
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Financial & Performance
Spending: cost controls “here to stay”
Current crisis said to have engendered long‑term change for the Group, with claims that costs are being permanently cut, and not just deferred. Further confirmation provided that the peak of capex is behind the Group.
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Financial & Performance
Outlook: Cash is king
Telefónica appears just about on track to meet guidance on operating cash flow during this uncertain year. The weak share price is adding to worries on debt, but generating more free cash flow is the Group’s preferred response to pressure. Management tight‑lipped on future dividend payments. ...
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Financial & Performance
Headline data: Another quarter of belt‑tightening and falling revenue for Telefónica
Telefónica’s narrative of core market strength yet to fully win over doubters. Restructuring remains work-in-progress in Hispam, Tech, and Infra.
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Products & Services
Telefónica’s alarms JV turns up sales volume
Telefónica’s home security JV in Spain shows signs of customer growth after initial launch was hindered by pandemic.
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Strategy & Change
Telefónica Q2 FY20
Another social pact unveiled as COVID‑19 and currency falls combine to wipe €1.5bn of reported revenue in second quarter and shred profitability. Cash generation a priority as strict — and seemingly permanent — spending and investment restrictions are put in place. “Resilience” the key quality attributed to the Group ...
