Senior Correspondent, Spain
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Jul 31, 2014

Telefonica shows some turnaround signs after in-line earnings

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

Jul 30, 2014
Jul 30, 2014

Spanish economy powers ahead, but deflation clouds outlook

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
faced risks.

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
three months.

Jul 17, 2014

Telefonica tries to ease Brazil pressure with lower Telecom Italia stake

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.

Jul 16, 2014

Telefonica to use exchangeable bond to cut Telecom Italia stake

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.

Jul 14, 2014
Jul 10, 2014
Jul 7, 2014
Jul 7, 2014

Gowex collapse casts shadow over Spain’s alternative market listings

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.

Jul 6, 2014
    • About Julien

      "Julien is based in Madrid where he covers Spain's economy and politics. He previously worked in Brussels where he reported for four years on Europe's debt crisis, financial regulation and foreign affairs. He also dealt with a wide range of EU issues and policy, from trade and competition to energy, climate change, agriculture as well as Nato and Belgium. He joined Reuters in Paris in 2006."
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