MADRID, July 31 (Reuters) – Spain’s Telefonica SA
showed early signs of a turnaround in its biggest market Spain
after reporting a 15 percent fall in second-quarter income.
Europe’s biggest telecoms firm by revenue is, like many
rivals, investing in high-cost fibre optic networks and packages
of services that combine mobile and fixed-line phones,
high-speed internet and TV. The aim is to win customers and
boost growth but the investment is also putting pressure on
MADRID, July 30 (Reuters) – Spain registered its fastest
economic growth since before the financial crisis in the second
quarter, becoming one of the brightest spot in a struggling euro
zone, though a sharp fall in consumer prices showed the economy
Wednesday’s preliminary National Statistics Institute (INE)
reading of 0.6 percent was the strongest quarter on quarter rise
since the final months of 2007 and beat economists’ forecasts of
0.5 percent. It compared growth of 0.4 percent in the previous
MILAN/MADRID, July 17 (Reuters) – Telefonica’s move
to reduce its stake in Italian rival Telecom Italia may help the
Spanish phone group appease regulators over competition concerns
in Brazil and possibly accelerate consolidation in that market.
Telefonica controls Vivo, Brazil’s leading mobile
operator, and is the biggest shareholder in Telecom Italia
, which owns Vivo’s rival TIM Participacoes.
MADRID/PARIS, July 16 (Reuters) – Telefonica will
sell 750 million euros ($1 billion) in bonds that convert to
Telecom Italia shares, it said on Wednesday,
effectively loosening its grip as largest shareholder.
In a notice to Spain’s market regulator, Telefonica said the
bonds, which pay 5.25 to 6 percent interest a year, would mature
in three years but could be converted at any time before that or
paid in cash if conditions are met.
MADRID, July 7 (Reuters) – The collapse on Sunday of
wireless provider Gowex could rattle investors’
confidence in Spain and its companies just as the country
emerges from the worst of a five-year slump and foreign money
starts to flow back into it.
Gowex said on Sunday it would file for bankruptcy and that
its CEO had resigned, after acknowledging it had reported false
accounts for at least the last four years.