Telefónica eyes more areas to chop spend, concoct cash flow

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Source: Telefónica

FY25: After spending much of last year stewing over the ingredients of its new Transform & Grow revival plan, Telefónica indicates it is now ready to begin cooking. The five-year programme looks set to kick off with some substantial wins on opex savings and capital intensity.

This article includes:

  • Themes: Transform & Grow strategy; Long‑term turnaround; Capital intensity reduction; Strategic reset; Leadership transition; Shareholder expectations; AI and 6G era positioning; National champion narrative.
  • People: Emilio Gayo; Juan Azcue; Marc Murtra.
  • Geographic: Spain; Europe.
  • Organisations: Telefónica. 

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