• In January 2020, Telefónica Group refreshed its representation on its UK infrastructure-sharing joint venture (JV) with Vodafone UK, Cornerstone Telecommunication Infrastructure Limited (CTIL).

Telefónica updates its CTIL oversight team

Telefónica updates its CTIL oversight team

Source: CTIL

In January 2020, Telefónica Group refreshed its representation on its UK infrastructure-sharing joint venture (JV) with Vodafone UK, Cornerstone Telecommunication Infrastructure Limited (CTIL).

The operator has beefed up the presence of finance executives on the board, with both Patricia Cobián, Chief Financial Officer at Telefónica UK (O2 UK), and the operating business’s Head of Finance James Gill added to replace Laura Fernandez, an outgoing Telefónica finance executive. The refreshed board coincides with Telefónica’s restructure, and most notably its creation of Telefónica Infra, a division dedicated to the Group’s physical infrastructure and tower assets.

The refresh may also be a step towards the JV owners preparing to follow through with earlier indications of interest in monetising the infrastructure business (Telefónicawatch, #134). Analysts have valued CTIL at more than €2.6bn, despite deployment and operating costs leading to a €103m loss in FY18–19.

CTIL board members, January 2020
DirectorRole at CTIL parent
 Source: CTIL; various.

Patricia Cobián

Chief Financial Officer, O2UK

James Gill

Head of Finance, O2UK

Derek McManus

Chief Operating Officer, O2UK

Brendan O’Reilly

Chief Technology Officer, O2UK

Emanuele Tournon

Chief Financial Officer, Vodafone Europe

Scott Petty

Chief Technology Officer, VodafoneUK

David Wormald

Director of Finance, Vodafone Group

Andrea Dona

Head of Networks, VodafoneUK